AJPY a possible short short and a long long?

AJPY looks like it could possibly drop to a strong support at 81.5XX before launching up to retest the resistance at 84.47XX, expect some ranging to occur so time frame is not certain but direction is more or less in our favour. Ranging may occur at both POC's.

COT Analysis says that AUD is slightly stronger than JPY with a divergence ratio of 2.02 in bull's favour. I am bullish if 81.5XX holds.

Commentaire:

My hypothesis holds if the 83.10X level is not broken. However, should price break then we may see a rally to 84.1xx level or 84.9xx level. Current PA may be a stop hunting exercise, do not long or short until an engulfing is seen in either direction.

Trade fermée manuellement:

Did not retrace as expected but closed at target.