Ichimoku Daily: AUDJPY 17th July 2009
We had an interesting week for the AUDJPY pair, quite similar in nature to the AUDUSD where we’ve seen some sell off but still the Bulls showing their strong commitment for the longer term cycle in future. The picture is quite clear for this particular pair and what we see here is a possible sell-off which might find its first level of support at the Lower border of Kumo Cloud. Any downtrend started now will have to fight hard with a very strong Support Zone between 69.40 and 68.40.
We also witnessed that the Bulls managed to finish the day with a Bullish Candle however the Body of the Candle itself was too small and it had a really long shadow (below the body) forming almost a Hanging Man pattern. Any attempt to push Prices higher from here should resist at the upper border of Kumo at 76.60 and 76.90
Strategy: Overall Bearish with Long term Profit Targets at 69.40 and 68.40
[...] Original post by Stock360 [...]
Ichimoku Daily: AUDJPY 17th July 2009
July 19, 2009 at 11:23
[...] Original post by Stock360 [...]
Ichimoku Daily: AUDJPY 17th July 2009 | Forex @ U Want 2 Know .Info
July 19, 2009 at 15:08
Thank you so much to present Ichimoku charts,
It´s very educational and I am going to follow your work & analyses. It´s allways much more practical as to read only theory when you do see someone applying it for production nor matter which theory each prefer to stand for.
Enjoy your summer,
Regards,
http://just-charts.blogspot.com/
mika
July 19, 2009 at 22:56
Thanks a lot Mika,
Not sure if you remember me, we’ve been in touch before when we had a bit of email exchange regarding the Elliott Wave Analysis since I was trying to collect the Rules and Formulas to learn EW’s practical applications.
I’ve been a keen reader of your blog since a long time and I’m glad that you passed by my blog too.
Thanks once again and stay in touch.
Regards,
Stock360
Stock360
July 19, 2009 at 23:18