On the one-hour chart, AUDJPY is in the area of overhead resistance and the supply zone. Both
the zero-lag MACD is showing bearish divergence. The mass index indicator has already given
a reversal signal where mathematically the indicator goes over 27 and then triggers when
it crosses down on 26.5 This indicator often misses a reversal but seldomly generates false
signals. Japan has had rock-solid central bank actions and policies perhaps propping up the
currency value in comparison with others including the Australian dollar. Overall, I have
high confidence in a short leveraged forex trade of the pair at this time. The stop loss is
just above the red supply zone while the target is just above the POC line of the volume
profile yielding a trade with a reward for risk of over 20.
the zero-lag MACD is showing bearish divergence. The mass index indicator has already given
a reversal signal where mathematically the indicator goes over 27 and then triggers when
it crosses down on 26.5 This indicator often misses a reversal but seldomly generates false
signals. Japan has had rock-solid central bank actions and policies perhaps propping up the
currency value in comparison with others including the Australian dollar. Overall, I have
high confidence in a short leveraged forex trade of the pair at this time. The stop loss is
just above the red supply zone while the target is just above the POC line of the volume
profile yielding a trade with a reward for risk of over 20.