Expecting USDJPY to move up as it is touching the lower side of an important trend-line on 4Hr chart as shown.
RSI looks poised to go up as well - as currently it is in oversold area..
Trade with caution as a break of this channel could mean further downside slide..
NIFTY appears to be completing Wave 5 of the journey it started in March-16.
Possibly, very soon, ABC correction will take down NIFTY back to levels of at least 8700.
Or it could even go down to 8400 or 8100 - depending on the strength of abc corrections..
I am already long GBP/JPY as it crossed 200 EMA on Hourly chart.
ADX has moved above 30 as well - so I would add more as I see strength in this rally now.
Strong close below 200 EMA is trailing stop loss, or else any retract to 200 EMA is a buying opportunity.
Using 20 EMA (strong close above) as trailing stop loss, AUDJPY looks like a good opportunity to short right here for a good rally down...
Besides, AUD is very weak and JPY is pretty strong overall for now...