Wednesday, April 15, 2009

AUDJPY: Rebound

Sweet. I've got a support line around ~70.60 that is approximately where the market bounced back into upward movement.

If you follow my ramblings on Twitter you'll see me making noises about a rebound in the works... and it came about while I was asleep.

It's a very good feeling to have the market respect your charts and signals. Too bad it doesn't happen all that often.

No time to look into things this morning. However, there's two obvious notions, either a retest at the top or a reversal and retest at the bottom of our recent downward move.

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