AUD/JPY: New short is possible at strong levels of resistance

01.07.2016 / 04:11

Rating:

AUD/JPY

Date: July 1, 2016

H4 Graph: Short Trend

After the big decline of the previous move, the price came back up to horizontal resistance and FIB 50%.

Price Action - Doji bar on strong level of resistance - signal for short

Alternative scenario: If the price moves above the FIB 50% and above 0,77250 will cancel the bearish view

Technical indicator:

DEM (14)H4 - In the middle of the range

Sentiment: Its positive, but after the higher moves on the indices for the last 3 days, they are at levels of resistance and we could see corrections, which will help this pair to trade lower by the trend.

Price for Entry short around: 76,90

SL: 77.250

Jr. Trader - S. Fuchedzhiev

Varchev Traders

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AUD/JPY: New short is possible at strong levels of resistance

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