AUD / JPY
Our expectations: We expect the price to increase after correction to Fibo 50 level and levels of diagonal and horizontal support.
Alternative Scenario: If the price returns below the 50SMA and the levels of support we may see a new bearish momentum.
Comment:
Ascending trend.
Price over 50SMA - positive signal
50SMA over 200SMA - bullish formation
Correction to Fibo level 50
CCI (50) breaks level 0 from the bottom up - a positive signal
Action Action - Pin Bar on levels of support - Positive Signal
SL: 85.018
Junior Trader Stefan Panteleev
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