Market Scheming

Sunday, October 31, 2010

AUDJPY spike on Oct 31st

I was just looking at the Asian markets and noticed the AUDJPY pair.

long term Daily chart below

Short term daily below:

One major note on the chart above is that all moving averages have converged at the 80ish line.  20, 50 , 200.  So this level is key to have.  It is 8:23, and there was a spike that tagged these moving averages.

10 min chart below

8:20 pm EST on Sunday Oct 31st, this spike in the pair is pretty impressive.  Came up and tagged the trend line I drew last post.  This could be the last attempt before a breakdown below the trend line and all daily moving averages or it could be the first major attempt to get  back up to the recent highs.

QE2 announcement is on Wednesday, 2:15 pm. Bloomberg link


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