AUD/JPY:
Date: 6 January, 2017
H4 Graph: Long Trend
The price did made a correction down, but it seems that its over now and we might see a long move again. The correction down stopped at Fib 38.2% and horizontal and diagonal supports. The price is also trading above both 50 and 200 ЕМА.
Price Action: 3 higher highs and higher lows - Possible signal for long
DEM (14) - Its close to the oversold zone
Alternative scenario: If the price continue down and passes below the diagonal and horizontal supports, this will cancel the bullish view.
Price for Entry long around: 84.800
SL: 84.300
Jr. Trader - S. Fuchedzhiev
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