Dear Carry Traders,

AUDJPY may have found the bottom, based on the Daily chart.  The price bounced up from the Support  (83.00 ish).

Daily Stochastic also crossed, so we can expect Stochastic to come up??

 

The price action on H4 is also encouraging.

It was making Lower Lows and Lower Highs, until recently.  But now we have Higher Low and Higher High.

Thus perhaps it makes sense to buy this pair from the next Higher Low.

 

As always, let’s measure Fibonacci for the entry.

Fib 38.2% – 50% area is a very nice Role Reversal area as well.

So let’s keep an eye around this area for the entry.

 

 

Hope this setup helps you build your own.

 

 

YJ Baik – Forex.Today @ Tokyo