Wednesday, December 15, 2010

AudJpy : Price/Stochs Vearish Divergence : 2hourly chart



Prices has poped out of trend channel.
A Triangle roof has been formed.
Looking like a head and shoulder reversal on the 2hourly chart.
What that means is Jpy will strengthen and Aussie weakened.
The only thing not to like is stochs is on the low side
But itself also out of the triangle besides also forming a bearish divergence to price.
Taking the cue from moving averages, as long as price stays below that.
Anticipatiing a break of the neckline.

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