Today is a big news  day first we have Australian Consumer Price Index  ( CPI ) report  then European session Great Britain Preliminary GDP report then US Federal Reserve rate decision (FOMC) according to CME group Fed watch  market has price in 0% probability of rate hike on this meeting. a lot of market mover for the next  48 hours , in the mean time technically AUDJPY  could  formed  a double top  if fundamental agree. Yesterday Pre London market give the Bull  a nice 100 pips+ move , now is the Bear turn look for an opportunity to sell at double top area  + weekly pivot ( WPP )  86.29 area .

 

20160427  AUDJPY 4H

If fundamental news push the Australian dollar further up and Yen continue its weak trend then AUDJPY double top become break up further to the Fibonacci 131.8% level which is a nice 100 pips+ move to 87.5 area. The probability of Australian dollar  strengthen  is fuel by more good news from China and as we can see commodity index continue moving up

 

20160427  CRY

Bank of Japan ( BOJ ) is busy to weaken Yen to support their export by giving incentive paying Banks to lend out Money. Bit by bit add up to further fuel the AUDJPY break up the Resistance area. This is going to be a nice exciting trading days.

Happy trading

 

 

 

 

 

6 thoughts on “AUDJPY 4 hour forming a double top ( 27 April,2016 )”

  1. Ben Leung says:

    The pair dropping over 150+ pips since the release of the CPI figures. The bear is in control. Well done.

  2. Jim Reddihough says:

    That gave a nice move Daniel. Good analysis.

  3. Miles Nummularius says:

    Nice analysis Daniel, big bearish move on AUD.

  4. Chris Ogilvie says:

    Awesome job there Daniel

  5. kenny chung says:

    Super accurate analysis Daniel !

  6. Manny burgos says:

    Thank you

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