AUD/JPY — With Asian Markets up and US Markets how with this pair favor?

We know that the Asian Markets and US Markets are up — traders can follow our Video Analysis from our chief analyst David frank from this morning.

How will the AUD/JPY carry in this market?

Let’s look at the daily chart:

The current position is around 99.402 in the upper band of the bollingers and strong bulls power. It is above the moving average which indicates it is in a bullish movement up. We see also on the hourly chart the growth pattern. It appears to be continuing the upwards momentum to new heights today.

Looking at the minute chart we see that the momentum is not so consistent within the hour. Bears power is still there. Therefore investors are encouraged to look at this chart:

Traders should look for bulls power declining or ending in the minute chart to determine if there is a levelling or change of direction. If traders are seeing a change of direction then there is encouragement to position on the short. Meantime, long positions are still favored.