In this afternoon Reserve Bank of Australia will announced interest rate decision . If No rate changes then AUD will continue its bullish in turn this will push AUDJPY to higher level than now . Tokyo stock market is off on holiday and Shanghai and Hong Kong still on holiday thinner trading market is expected with this in mind trade with the direction of yesterday move which is continue up from support area of 80.50. looking at 4 hours  bull either enter earlier or wait RBA decision to trade in the direction of the market.

 

20160503  AUDJPY 4 hour

 

For the Bear 4H  21 and Psychological level of 82 area is the opportunity to sell . Also looking at 1 H daily R2 which is also a nice sell area for the bear .

 

20160503  AUDJPY 1 hour

happy and safe Trading.

 

One thought on “AUDJPY support area of 81 Holds ? ( 3 May 2016 )”

  1. Ryan Gandalf van Jaarsveld says:

    Spot on again Dan! up to resistance and then a massive drop down to support with rate cut announcement. Looks like price is making its way back to the central pivot. What are your thoughts?

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