AUDJPY goes crashing through but what next?

Good evening ladies and gentlemen

I hope you all had a great day in the market. The trading week has only 2 days left!! Nooooo!!!

So lets see how the AUDJPY has done today. Yesterday we were left wondering whether she would bounce off the S Line for a third time and make a move up or crash through it. Price also had the VI to contend with if the S line was penetrated!

Below is the 4 hour chart and we can see that between 12pm and 4pm today, price made light work of both of them passing straight though. Since then price has fought back and is currently retesting the VI. Looking at the other indicators RSI is not yet OS but has turned and is now facing the midline. MACD is still below the midline but is it still doing lower lows? Depending on your trading style and what TF you prefer to trade on, one may look to use the treasured ESLT to gather any pips that may be presented to us and yet at the same time avoid a FBO. Others may yet still be waiting for further comfirmation. Either way there is noe right or wrong answer as long as you adhere to the rules of your TP when you decide to take the ride!!!

SO what is going to happen next? As mentioned before, are we going to see a retest of the VI or is price going to use the Fib Breather level where its currently sitting as a catalyst for a push up. Let's see what happen!

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari