AUS/JPY descent through diagonal support, going bearish?
Hi. Plotted on the 1D chart is a diagonal support line. It has recently been broken.
On it I've also pointed out the near crossing of the Ichimoku conversion line and base line.
The MACD is also turning away from its signal line in a downward direction and if the trend continues is will also soon pass the top line of the Williams.
In the 4h chart the MACD and WIlliams is not as indicative of a downturn but instead the Ichimoku shows a recent crossing into a red cloud which is indicative.
Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you.
This does not constitute financial advice.
Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations.
Any trades shown or mentioned are examples and neither recommendations or mandates.
On it I've also pointed out the near crossing of the Ichimoku conversion line and base line.
The MACD is also turning away from its signal line in a downward direction and if the trend continues is will also soon pass the top line of the Williams.
In the 4h chart the MACD and WIlliams is not as indicative of a downturn but instead the Ichimoku shows a recent crossing into a red cloud which is indicative.
Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you.
This does not constitute financial advice.
Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations.
Any trades shown or mentioned are examples and neither recommendations or mandates.