US Non-farm employment changes ( NFP ) result was below market expectation , but other result was better than expected, dollar index slightly stronger at closing. The commitment of trader report ( COT ) of Australian dollar AUD show last week there is less Bull and less Bear entering the market but the net position is Positive way above 0 , there is much more bulls position than bears. Technically looking at AUDJPY daily It hits monthly S1 on last week Friday and today bounce off MS1 , stochastic is oversold below 20% it will be interesting to see if it slowly climb up entering the buy zone in this week .

[img class=alignnone size-medium wp-image-604302 src=http://forex.today/wp-content/uploads/2016/05/20160509-AUDJPY-day-1024x559.jpg]
looking at 4 H For the Bull this week move could be from weekly M2 78.5 area to weekly M4 82.29 area. Bulls will long at any pullback aiming 82. The Bear is looking for an opportunity to Sell at 4H 21 and weekly pivot WPP 79.57 area. aiming Weekly support WS2 about 76 area .

[img class=alignnone size-medium wp-image-604303 src=http://forex.today/wp-content/uploads/2016/05/20160509-AUDJPY-4H-1024x559.jpg]
looking at 4 H stochastic nicely pointing up and entering the buy zone . For the technical to play out as we plan it all depend on fundamental to support the assumption . Buy at support and Sell at resistant .
Happy and safe trading.
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