week48 D1 AUDJPY D1 flying Buddha shooting star retracement imminent

D1

After reaching 90.000 and possibly many bullish traders were booking profit at a key resistance, what happens next will likely be a retracement due to a shift in supply and demand.

This chart suggests a flying buddha in the forma of shooting star could be happening, and as a result a mean reversion could be taking place.

week48 AUDJPY D1 flying buddha mena reversion 031215

D1 line chart

Line chart version also suggests price is currently at resistance.

week48 audjpy d1 trendline resistance 031215

edited 081215

price finally moved and acknowledge the resistance the 90.00 . Whether this is a countertrend/ deep retracement / reversal , it is not obvious at this stage of time. However it is good to take profit from this short for now, until there are clearer signs for more shorts.

 

 

 

 

 

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One thought on “week48 D1 AUDJPY D1 flying Buddha shooting star retracement imminent

  1. Pingback: week50 Intermarket Analysis Part I: Rise and fall of Stock market and JPY crosses | Naked Chartist

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