AUDJPY is under the microscope!

Good evening ladies and gentlemen

I hope you all had a wonderful weekend and ready for another weekend in the markets.

This week I thought I would keep an eye on the AUDJPY. Below is the weekly chart and we can see that price dropped sharply from July 08 to October 08. It did a 123886 and has since fought back to a RN which sits perfectly with a Fib Breather level. Subsequently price has been shorting today!

Below is the daily where we can see the 123886 and the push up to the RN in more detail. This is also a Fib Breather level on this time frame and Price also shot through the VI on its way! MACD has been diverging and the recent 123886 has caused price to weaken and move south! Could we see a retest of the VI? What are the other indicators saying? RSI is not yet OB but how about Stochastics?

Lets see how the action unfolds during the week. As always do your own analysis along the way!

Alright Rich. The weekend was sound despite the lack of sun! My golf swing is coming along smashingly! Yours?

The answer to my riddle is "Consistency requires MENTAL SKILLS!" Tricky one granted!

Hahaha. Your riddle is an old classic! The answer is all of them!!

My riddle is "Where was the hot water bottle invented?"

Till tomorrow

Abundance is your Birth Right!

Zaheer Anwari