During my routine Sunday chart scanning , AUD/JPY jumps out to me. I see something interesting. It looks like a bearish flag, then it broke down, pulled back, and this might be a downtrend continuation. I am watching closely, and play at the short side with caution. But,be prepared, it might signal a new bull run of the pair.
Here is the ……..CHART!
[photopress:audjpy08feb2008_daily.gif,full,1]
Here is the trend score, a weak downtrend is indicated, which shows a potential.
negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops.
Whoops!
Might be a good short now (on 12 February)…I’m net long JPY as well today. Trades just bouncing around for now, so I really think Ima gonna have to watch the rollover…
Time will tell.
Whoops!
Might be a good short now (on 12 February)…I’m net long JPY as well today. Trades just bouncing around for now, so I really think Ima gonna have to watch the rollover…
Time will tell.