Waiting to see what happens at the 138.865 level. Price seems to be losing momentum, but if it is able to break through resistance, looking to buy. Will be watching USDJPY closely as well. Both seem to be charging to levels of resistance.
Looking at price action, following the RBNZ announcements last week. Waiting to see what happens in this area. Looking to sell if price action breaks through support. Watching, also, to see if price will begin to move sideways.
If AU news is good, there is a chance that price action will break through the top trendline and then retracement to the line and then continue upwards. Need to wait for the Reserve Bank's sentiment on easing.
There is major consolidation in the pair. Price action, though, has broken through the trend line created by the wedge. Volume has fallen considerably. Stochastics are oversold on the 4hr but over bought on the Daily. FX:USDJPY
Aussie dollar is doing well right now. From a purely technical standpoint, this pair is coming back for a retracement from a downtrend. Came back to the .618. Need to be cautious, as the price can continue downwards. Price action, though, is looking to be slowing down in the negative direction.