The beginning of the week should tell the story once the cash rate decision comes in. Most indicators (not that they matter) are showing the AUD being overbought. I could see a pullback in the near future, with a double top being formed, and a M pattern taking hold. It is neat how much the current pattern looks like the pattern formed around Sept 5th area of your chart. Anyways, thanks for your info... Its nice to see someone else who trades aud/jpy giving their opinion.
Hello there, There are some news source mention that JPY is going to intervene again, but personally I think not in near future unless something happens.
Anyway we just see how the price reacts and trade accordingly. :)
The beginning of the week should tell the story once the cash rate decision comes in. Most indicators (not that they matter) are showing the AUD being overbought. I could see a pullback in the near future, with a double top being formed, and a M pattern taking hold. It is neat how much the current pattern looks like the pattern formed around Sept 5th area of your chart. Anyways, thanks for your info... Its nice to see someone else who trades aud/jpy giving their opinion.
ReplyDeleteHello there,
ReplyDeleteThere are some news source mention that JPY is going to intervene again, but personally I think not in near future unless something happens.
Anyway we just see how the price reacts and trade accordingly. :)