AUDJPY Short

5 apr 2016

Price broke out of the continuation triangle and found support, but broke out of a major trend line on the 1H. After the RBA interest rate decision, price jumped back in, but stopped on a dime at the 20EMA and at a high on the 5min chart. Expecting prices to go back down below the trendline before the 1H closes and when the 4H closes to confirm the low. Interest rates did not increase, so fundamentally we should also see a move down for the AUD.

5 apr 2016

Nota

Prices closed above the trendline support, but looks like it was only a stall. Prices should continue downward. Technicals call for it, and interest rates remaining the same also as well.