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AUDJPY; Weakness Underway

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Oct 16 2014

Yen crosses area moving sharply down in line with stocks as US bonds are trading higher. Recent declines are strong and sharp so we are interesting to join the trend but we need pullbacks first. On AUDJPY we are anticipating a new one in days ahead. It can be wave (iv) bounce that may come from current weekly trend line that pair is testing it right now around 91/92 figure. Ideally we will get a three wave, corrective bounce back to 94.00/94.50 area that would be a nice region to join the downtrend.


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