AUD/JPY:
Date: May, 10, 2016
H4 Graph: Short Trend
The price broke support below 79,50 and now came back to retest this level of resistance, even that we do not have a valid Fibo level for the correction.
Price Action: Doji formation at level of resistance and end of the corrective move
Alternate scenario: If the price break up above 79,50 and above the previous high,this will cancel the bearish view
Technical Indicators:
DEM (14) H4 - Still not in the over sold zone
CCI (50) D1+H4 - Both time frames is below 0
RSI (14) H4 - is below 50
Price for short around: 79,5
SL: 80.20
Jr. Trader - С. Фучеджиев
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