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AUD/JPY trend analysis - encourage intraday bulls with binaries

FX:AUDJPY   Australian Dollar/Japanese Yen
60 0 1
Please be noted that we were bearish bias and accordingly we suggested shorts in this pair.

Refer below link for further readings on our earlier post on this pair:

http://www.econotimes.com/FxWirePro-AUD-JPY-buying-momentum-shrinks-away-upon-Doji-formation-best-times-for-speculators-ranging-84-86700-187849

After above technical phenomenon, we've seen convincing declines of AUDJPY             as bears pulled back from the doji formation at peaks.

For now despite the bullish attempts from last three days, the stiff resistance is seen at 82.685 (7DMA)levels. If it clears we see upward travel upto 83/83.50/83.80, otherwise further weakness could be expected in the days to come.

Although it's been holding firmly at this resistance levels on daily charts ,  but unable to clear these levels to signify long term bear trend's momentum .

Daily leading oscillators show little strength in current prices but we can't afford to regard this as bullish momentum . While, lagging indicators have still been bearish bias.

On a broader perspectives, you can figure out from the monthly chart that the attempts of recovery has been suppressed at 85.646 from last couple of months to signify weakness and as a result prices have dropped well below 21 &7EMA curves as the strong supply seen at current stage.

Leading oscillators on monthly terms, signals intensified selling momentum , and EMAs and MACD have been indicative of long term bear trend continuation.

Thus, any breach of the above stated resistance level would determine the direction of next uptrend but we continue to be bias southward targets.

Intraday bulls can take advantage of buying sentiments for the day, using boundary options they can make cetainn money with OTM call strikes at 82.685 and ITM             strikes at around 82.414.

While, short term speculators can bet on credit spreads using calls, whereas long term investors should safeguard their FX portfolios by hedging downside risks.
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