AUDJPY-convergence divergence setup near 95.000 Short

FX:AUDJPY1D

Australian Dollar/Japanese YenFXCM

Description

⋅ May 11, 2015 3:51 AM

We can see the first convergence con W1 chart.

On D1 chart there is the first divergence and the price rejecting from the 0.95 zone

Best regards

Comments

Anakiin

⋅ May 11, 2015 3:57 PM

There is also a long term support line at 94.5 + 200 EMA as support, UPWARD Trendline (from April 14) as support. AUD Stronger fundamentally than YEN (which is still in QE phase)

Anakiin

⋅ May 11, 2015 3:58 PM

my comment was meant for AUDJPY

FullTimeTrader

⋅ May 11, 2015 4:34 PM

thanks for your comment, i will consider that levels, right now im already short, lets see what happens....

PriceActionTrading

⋅ May 11, 2015 3:57 AM

Similar AUDUSD shorting idea.

FullTimeTrader

⋅ May 11, 2015 4:03 AM

yes, the AUDUSD should go similar way, i chose this pair because this pair did a deeper retracement and:
-doble top
- the two pinbars
- strong long term resistance and round number 0.95 (similar to AUDUSD)
Best regards

PriceActionTrading

⋅ May 11, 2015 4:24 AM

Yes you too.