AUDJPY weekend view.

AUDJPY finished last week with a spining bottom candlestick on a weekly chart. Pay attention to Bollinger Bands very close to the previous candle – we use 3 standard deviations set, so the probability of penetrating them is very low. Turn in the mood should be expected with a wave of buyers coming into the market. 50% Fib level and diagonal support suggest a nice blue candle next week. We even expect market to open in 4 hours with a small gap up. However, on a smaller scale the pair is not showing a strong sharp reverse patterns, so beware of bears trying to squeeze another bottom check before the turn.

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