FX:AUDJPY Australian Dollar/Japanese Yen
Looking at the daily AUD vs JPY we see price sitting inside the Kumo Cloud. Our bias is neutral while price is in a turbulent state inside the Kumo but we are expecting a major thunderstorm and down pour of heavy price. What is of relevance is the rejection bar bouncing off of the Kijun. This is showing us that there is a resistance at this level and possibly selling pressure. If price cannot violate the Kijun we will more than likely see a Kumo Breakout to the down side as price falls out of the Clouds. All signals on the daily time frame are except for our neutral bias with price at the moment. The blue skies are turning Dark in the future and we should see a thunderstorm of price falling from the clouds. You could expect a heavy down storm possibly to the 90.713 where we have support sitting beneath us. Expect lots of sunshine and blue skies if price can violate the upper cloud level and therefore we would miss out on the predicted thunderstorm. Wear your rain gear just in case. Visit me at www.fxatoneglance.com and until the next forecast God bless!