AUDJPY in retracement but still in downtrend

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    As I have explained many times before AUDJPY is connected to equities markets and always watch China50 index. When China stock market is plummeting investors fear that it will slow global eco activity and that causes equities to go down (China A50 Cash) and vice versa. We had an equity bounce today caused by China stimulus but that could easily be a short term fix. Technically we observe a regular bullish divergence which is causing the retracement towards POC and POC2. POC (61.8,H4) comes

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