AUD JPY Technical Update For W/C 31st January 2012

AUD JPY Technical Update For W/C 31st January 2012

Following on from the more comprehensive AUD:JPY analysis detailed here, I just wanted to point out this triangle resistance that will probably initiate a pull back to retest the 61.8% Fibonacci level which currently meets with the falling Daily 200 MA. This encourages a short term selling opportunity (for approx 120 pips) after which we can undertake further evaluation of the likely next direction:

 

1Comment
  • RS2OOO
    Posted at 19:09h, 30 January

    This trade played out beautifully today.