Ok, just did some major analysis of this AUDJPY chart. NZDJPY should trade similar. Anyway, audjpy has fallen so far its hard to find a support zone on the daily. Last night I looked at the weekly and set my PT at .76 which turned out to be perfect. I posted a couple charts for you showing why I think the bias may switch to long very soon. Again, need to zoom all the way out to weekly but its strong support at 7600. On the hourly, you can see we closed this morning with a nice , perfect 38.2% pin bar right at support which is EXTREMELY bullish. If equities stay strong and the 7600 level holds, down to an hourly level, we could see momentum switch this week. The sticking point will be Thursday's Chinese data. If that comes out anywhere near strong, we're gonna be closer to getting outta the woods. Again, it all depends on this 7600 level hodling. If that support fails tonight, its game over and hedge needs to be back on, possibly down to 7250. NZDJPY support comes in strong, coincidentally, at .7250. Lets hope they hold!
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