AUDJPY WEEK 37

AUDJPY WEEK 37

8 September 2014, 15:17
Ronnie Mansolillo
0
129

We see on chart two different trends. Primary Bearish one comes from the Red Dot (maximum at 105,41) in April 2013 and Secondary trend is Bullish from last ZigZag. Price is inside an Overbought zone but far away from last year maximum. During last bar we see also an up break of Fibo 161,8 and is possible to see a continuation of uptrend.

Probably price can touch in the next weeks Fibo 261.8 at 101,00.

From the last minimums we didn't see on chart a new down Red Dot. It suggests that actual Bullish trend probably will end soon.

So recommendation is to wait price turn back below Fibo 161,8  and an exit from Overbought zone to enter the market short and follow the Primary trend direction.

Good Luck!



AUDJPY 36

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