S1S AUDJPY – Jan 31st

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Selling the weakest pair, buying pair that is still near bottom of STAM matrix (JPY) but that has been strengthening on D and W timeframes and which has the strongest momentum on lower timeframes. Target previous low – demand zone, and good resistance from supply zone above.  Pair is making lower highs, and many strong bearish candles. It looks as if pair has broken consolidation, then retraced and is now ready to head lower to test lows from August 2013.

I say it’s not a great sign, that I entered a trade within 90 minutes of sitting at my desk after a 8-9 day break from the markets.

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2 Responses to S1S AUDJPY – Jan 31st

  1. FXTraderPaul says:

    Lets see how this one plays out – I suspect we’re more likely to see JPY strength before any AUD strength. Watch this like a hawk.

    Like

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