I still trade this pair, AJ seems to be of little interest to most. Possible 99ish, then 96ish if it makes up its mind I think? If it continues and can hold looks like an engulfing bear on the daily building to me.
Biggest concern I have now with being short is that although it likely will print an engulfing bear on the daily it did not break the range in either direction, Friday nfp spike top along with the 11-27 candle, and todays low is bottom along with the 11-26 candle,, still playing out a rectangle and direction questionable. Id like to see a conclusive break of the rectangle being other xxx/jpy pairs don't seem to be following yet,, but then again AJ can follow the beat of its own drum from time to time.
What do you think about this region? its daily 23 fib and downside 61 fib. big place of confluence and, 100 psychological level. if it will come back I would like to sell around here. And it looks good -27.2 fib to put tp. What do you think?
Currently AJ is sitting in what my system says is neutral, with a slight short bias , although not confirmed we are printing (1/2 hr to go) what I will call a PA pin bar set up on the 4 hr, if the current 4h bar cannot break higher we may see lower prices from here in the upcoming sessions. I've already entered short off the 1h with stop just above the 1h high at the rejection of the 1h bar after that pin,,, we will see what happens next.
Edit: an hourly close above .80 will likely cancel out the above plan
