AUDJPY defying the odds..... but for how long?

Good evening ladies and gentlemen

I hope you all had a profitable day in the market. If not, remember a winner never quits!!

So lets see how the AUDJPY has behaved to day. Yesterday we had a confluence of events that may have suggested that we had a reversal on our hands. Looking at the 4 hour chart below, we can see that it was short lived before a further move up. At present, price does not seem to be making any big moves, 50 pips being the maximum today. It is still finding resistance around the figure even though it has broken above the R level. The question now remains to be asked if this is a FBO of the squeeze or will it use the R turned S level to bounce on through the RN. On the daily, the next R level is around 400 pips away! MACD is still diverging on the histogram. How about the other indicators? I will leave it for you to do your own analysis!



On the 1 hour we have a bearish engulfing candle at the RN. How significant could this be? Lets see what happens by the close of play for the week tomorrow evening.

Alright Rich. Spot on man. The answer is "I wept because I had no shoes until I saw a man who had no feet." It is an ancient Pursian proverb which is in one of the books we have here in our office called"Who will cry when you die?" by Robin Sharma. He goes on to say that volunteering your time to serve those who have less than you is an excellent way to remind yourself on a regular basis of the abundance that exists in your life!

The answer to your riddle is a complete stab in the dark and is "Fear begins to melt away when you take action on a life you really want?!"

My riddle is "In the midst of ______, I found there was within me an invincible ____!"

Till tomorrow

Abundance is your Birth Right!

Zaheer Anwari