$AUDUSD $USDJPY 27 March 2012

Asia Morning

Here is the hourly structure of $AUDUSD I am looking at for today's trading. It is not difficult to see the confluence of ABCD completion, resistance level and channel on the chart.

Not much changes for $USDJPY during overnight U.S session. Still looking at potential test of 8315/8320 range.

 

End of Tokyo session

$AUDUSD completed ABCD formation, and immediately reacted at the resistance level.  Next immediate support is seen around 1.0485.