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Playing Risk off Through AUDJPY

Friday, 30 March 2012 12:54 GMT

by  Jamie Saettele, CMT, Sr. Technical Strategist

The short term stock market pattern couldn’t be clearer. Get ready for April showers.

FXCM Expo Videos

Innovative Techniques with Traditional Technical Indicators

Trading with the Elliott Wave Principle

Seeing the Forest from the Trees: An Analysis of Global Markets

Afternoon Technicals (all charts)

Other TA (crosses, COT, etc.)

Morning Notes:

S&P – 5 waves down from the 3/27 high and the subsequent recovery give scope to a sharp 3rd wave decline today/next week. Get ready for April showers.

Playing_Risk_off_Through_AUDJPY_body_spx.png, Playing Risk off Through AUDJPY

Prepared by Jamie Saettele, CMT

AUDJPY – The short term (and maybe long term) bearish equity pattern reinforces last night’s Yen crosses report. Resistance is 8610/60. Objectives are 8385 and 8285.

Playing_Risk_off_Through_AUDJPY_body_audjpy.png, Playing Risk off Through AUDJPY

Prepared by Jamie Saettele, CMT

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele

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Jamie is the author of Sentiment in the Forex Market.

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