I suggested not to trade Yen pairs today, until we see the break of USDJPY pair out of the range.
So this could be your daily bread… 🙂
AUD had gained the value during Asian hours. However, looking at H4 of AUDUSD (above), the price is approaching to the resistance while Stochastic is reaching to 75%. So I will look for the Short trade from the resistance or from 55EMA (0.7030-7040 ish), when Stochastic crosses down.
Please notice because this drop could be from 55EMA, the price may not make the new Lower Low. It could make double bottom or even Higher Low. But that’s OK for a daily bread.
The target should be
DM2 (0.6959), or
Hope this analysis will help you build your own.
YJ Baik – Forex.Today @ Tokyo