I'm taking a look at the AUDJPY with a fresh lens. Credits to my Canadian colleague for pointing this out. Looking at the weekly chart and the way stochastics cross and the chart moves with the 30 day MA, the chart is self explanatory.
In simple terms, all over the chart you can see the weekly medium term trends from the stochastics crossing over to when the chart crosses MA to guage if we are in a bull or bear market.
AUDJPY in the immediate term (say next week) is still tracking sideways. However, reading the latest reports that the Japanese Central Bank is looking to find ways to tighten, that is positive for Japanese interest rates... and supports the chart view of a bearish bias.
This can all quickly change, but it's obvious the market is in a fight between the bulls and bears at the moment with no clear direction. It's even reflected on the updates for AUDJPY on this forum. More bets are being placed on the bears. Move with the head of the herd and heed the early bear signals.
A wave theory reading is we are out of a 5 wave with a plateau. Looks like another wave down in the coming weeks.
In simple terms, all over the chart you can see the weekly medium term trends from the stochastics crossing over to when the chart crosses MA to guage if we are in a bull or bear market.
AUDJPY in the immediate term (say next week) is still tracking sideways. However, reading the latest reports that the Japanese Central Bank is looking to find ways to tighten, that is positive for Japanese interest rates... and supports the chart view of a bearish bias.
This can all quickly change, but it's obvious the market is in a fight between the bulls and bears at the moment with no clear direction. It's even reflected on the updates for AUDJPY on this forum. More bets are being placed on the bears. Move with the head of the herd and heed the early bear signals.
A wave theory reading is we are out of a 5 wave with a plateau. Looks like another wave down in the coming weeks.