nelsyboy

AUD/JPY Possible Path

Kort
FX:AUDJPY   Australiensisk dollar/Japansk yen
With good divergence on the momentum indicator and the fact that price has slowed in advance of the 200EMA and the last point of heavy buying (blue horizontal line), it appears that the Elliott Wave ABC pattern could well have come to an end. I am not trading this as I would still have to see the MACD indicator cross the right way and the 15SMA and 5EMA lines also cross. But if you like to trade tops and bottoms then this could be one to watch for a break down in a lower time frame.
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