Tuesday, February 21, 2012

Hang Seng, AUD and JPY

Hang Seng reached it's Fibonacci 61.8% and now tries to reverse. Decline below 21200 could signal further decline to 20500. Daily MACD is weak.

Even the Japanese have intervened Yen, trying to weaken it, they might have succeeded in the short term. Usually these kind of effects are not long lasting. Investor gauge AUD-JPY made a reversal candle yesterday by touching Fibonacci 76.8%, and is now trying to head lower.