Consumer Price Index ( CPI ) of China just came out as market expected , Producer Price index ( PPI ) continue its 50th month down in the deflation area. Too many goods being manufacture without real demand, Australian dollars has been up after the CPI report and at the same time YEN continue is weakening trend from yesterday , USDJPY up almost 200 pips in the last 24 hours from 107 to 108.8 . The combination of these move up AUDJPY to a level higher,
Looking at 4H the Down trend 21 below 55 still in control , stochastic climbing to the over bought area , For the Bears this is Weekly pivot (WPP) and Roll reversal Area from last week movement .
Looking at 1H Price breaking up ,the Bulls look for pullback then long at the roll reversal area as support. London market open might give more liquidity and opportunity.
Happy and safe trading .