We’ve covered AUD/CAD earlier today and it’s doing well as expected. Let’s have a look at AUD/JPY
AUD/JPY action bias table shows persistent upside blue bars in H action bias. 6H action bias also stays upside blue for three bars. However D action bias has just turned blue with a down side red bar two bars ago. W action bias is also neutral all the way with two red bars in the middle.
The table suggests that current rise could be just a leg in side a short to medium term consolidation pattern. And this is consistent with D action bias chart. So we’ll tend not to chase the rally in AUD/JPY, at least until a sustained break of 84.51 resistance, or until W action bias also turns blue.
