Saturday, December 24, 2011

AUDJPY Weekly


See longterm support as 74.68
Still 5 waves upwards momentum
Triangle BO would suggest well into 3 of 3 scenario. 82.24

High Selling pressure could be above 81.68 range
Price has moved higher than the upthrust bar of 12/21 suggesting any sellers are being absorbed.

Often when two Bar/candles are near same size (as past two weeks in AJ)- and the one on right is lower volume then the left one-- it suggests more rise to come.
Any high volume move through resistance that is supported- would kick off a violent 3 of 3 as short stops being hit is additional buying