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cooney_s
Aug 18, 2014 1:40 PM

AUDJPY 

Australian Dollar/Japanese YenFXCM

Description

Please see chart notations. Due to their historical positive correlations. Keep an eye on SP-5oo. Sometimes it leads this pair and vice versa.
Comments
cooney_s
This analysis played out nicely and correct. Next target if bullish bias remains would be 100.30 which has until Jan. 2015 according to pitchfork median converging with gap created on June 5, 2013 LMA indicator trend change.
cooney_s
Bullish view played out correctly. Next possible move is to expect quick profit taking and selling to create a downward wave to 96.00 area. This would be support for bullish moves in the future.
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