AUDJPY bounced!

Good evening ladies and gentlemen

I hope you all had a great day in the market. One day left before the weekend so I hope it ends on a high for all you lovely people out there!

So lets see how the AUDJPY has faired so far today. Yesterday I mentioned that price was sitting at a fib breather level after since moving away from the major trend. I also said that price may use this plus the proximity to the VI as a support for a move back up and that is exactly what happened. A bullish tram track formation may hav e given Aggressive traders fuel for thought to open long positions here and would now be in healthy profit.

Price is now moving back in direction big brother is dictating but it is also kissing the VI on the 1 hour chart so what next is the question? On the 4 hr, RSI has just crossed over the midline and MACD is now back over the midline too.

It will be interesting to see what will happen next! As we know price never moves in a straight line so was this a period of retracement before a restest and break of the RN! Only time will tell....



Till tomorrow

Abundance is your Birth Right

Zaheer Anwari