Market commentary for AUDJPY from 11 to 15 December 2017
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The probability of AUDJPY seems at the bearish market for this week. There are number of reasons below:
- The market is respecting downtrend - Pin bar at resistant areas on 5 December 2017 and on 12 December 2017, the market reverses back to Fibonacci Retracement 61.8% of the pin bar. - Pin bar is below EMA 21 and 50, the EMA 50 is crossing over EMA 21.