2017 02 04_ AUD/JPY weekly chart review

I would like to share one idea with a long time traders about AUD/JPY. I would recommend to keep an eye on this pair till price will show a new direction, I think that it may be a great opportunity for the year. It seems that price stays in the price range of 75.000 ( fib 61.8 level) and 88.000. Historicly this range was very stable as a FLAT in the years of 2010-2012.

Therefore i see clearly H&S pattern and honestly speaking i don't think that price will break even the resistance level. I think price will stay in the long term flat.

Increased volume shows that more investers are coming to play the game, That will make volatility which will be valuable for the intraday traders to gain more profits.

Please see my idea at picture below:

NOTE:Information provided in this article is not a signal or recommendation for any trading/investment decisions. This is only my personal opinion and point of view. Please note that fundamental analysis is not included in this analysis. For futher details you can contact me by email kraucionisd@gmail.com.