AUD/JPY: reached diagonal resistance, around 96.94, wait a sell signal on smaller timeframe

AUD/JPY: downtrend

Levels of resistance, top shoulder of the channel 96.94. Around this levels we switch on smaller timeframe and wait for a sell signal. This can be on M30 when CCI goes from 0 to -100.

Good positions for sell are 96.90 with a stop slightly above 97.20.

The possibility the pair to keep it’s trend is big, but first we must have short signal on smaller timeframe.

 Varchev Traders

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance