AUD/JPY
bounced off from the resistance at 83.90 and continued falling towards 82.20
after it formed a rather impressive shooting star candlestick at that level on
the four-hour time-frame last week. Although the pair formed just as impressive
hammer candlestick at the aforementioned support on the same time-frame it
continued moving to the downside, so now the question is whether there will be
a breakout or will it form a double bottom.
If the pair breaks out below 82.20 it will likely continue falling
towards 81.60. On the other hand, if it forms a double bottom and bounces off
from the support it will likely retrace back towards 82.70, which is the (MA)89
indicator on the four-hour time-frame.
Very well spotted!
ReplyDeleteWell spotted! Thanks for sharing it.
ReplyDelete