Chart of the Day – AUD/JPY
We’re picking up where we left off in the recently published article about trading the AUD/JPY using price action, risk analysis and top down chart analysis to enter a trade.
We can see that the AUD/JPY pair has made a higher high over the last day. There are a couple of things to be cognizant of. One is the relative smallness of the day’s candle body. It did close above the close of the previous day’s body which is a good sign, but the body didn’t close above the previous day’s high. The EMAs are still far apart, signaling good momentum. The trend is still up.
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The Euro fell against most currencies today as Greece struggles to nail down an agrement with bondholders for cutting the nation’s debt load.
WSJ says Swiss private bank Wegelin & Co. was indicted Thursday on charges that it facilitated tax fraud by US taxpayers according to the US Justice Dept. Wegelin, Switzerland’s oldest bank, conspired with US taxpayers and others to hide more than $1.2 billion in secret bank accounts, the department alleged.
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