AUD/JPY: Price Action signal for new short


Date: 30 December, 2016

H4 Graph: Medium term up Trend, Short term short Trend

The price is making lower highs and this one is the 4th one. The price was not able to break above the horizontal resistance at 84.600 and also formed diagonal resistance. Price is belwo the 200 ЕМА.

Price Action: Two Doji bars at horizontal and diagonal resistance – Possible signal for short

DEM (14) – In the vicinity of the overbought zone

Alternative scenario: If the price breaks up above and passes over the horizontal and diagonal resistance, will cancel the bearish view.

Price for Entry short around: 84.450


Jr. Trader – S. Fuchedzhiev

 Varchev Traders

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