AUDJPY - Being hammered down by the underside of the Channel

11 Nis 2015

AUDJPY - Been watching this for a while and I am amazed by how much the broken channel support line has resisted price thus far. Pair is ranging between 94.63-89.37 (Flag pattern) and requires a catalyst for the next directional move but currently the pendulum looks to be swung in the favor of the Bears. Only a break above 94.63 could see the pendulum swing in favor of the Bulls. Shorts preferred!!