After 5 pm, the AUD/JPY tumbled. The Jan 11th candle will change over the course of day.
This move has completed a lower low, in the pair. The purple line is part of a Andrew's Pitchfork, as seen below.
Volume Watch
Above is a 15min chart for FAZ, covering this chart because I am expecting some upside movement this week. The volume has become a lot more bullish and heavier compared to previous days. I have mentioned that the last few minutes of trading sometimes is a good indicator of the next day's price action.
This type of volume distribution can be seen on the bear side of SPY and other indexes. I believe there is potential for a desperation run, before the US markets correct appropriately.
Have a look at the VIX, the "fear" indicator measures the volatility.
The pop in the morning was above 8% before selling off again. Look like a bull flag, so expect tomorrow to continue up. This would drive stock markets down.
Also notice that the VIX broke above a key resistance level of 18.30. Tread carefully.
Euro zone is destabilizing again,
Portugal has to go to the debt market Wednesday, last auction was around 7% for 10 year bond which is not sustainable without additional ECB / IMF support.
Japan is helping out with Euro Debt
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