The AUD/JPY pair skyrocketed on Thursday as the Bank of Japan intervened in the Forex markets by selling Yen. However, within 18 hours - the markets melted down around the world, and the markets bought the Yen hand over fist. Because of this, we ended up with a shooting star. The hammer that was formed on Wednesday shows the next massive support level. If we can break below the hammer - we are sellers.
The AUD/USD pair is currently testing the 1.04-1.05 support level after a brutal sell off on Thursday. With this move, we are looking to sell if we can get to 1.0375 or so - aiming for the 1.02 support level. If not, we could always see a supportive candle in this area, but large negative days like we have seen this week almost never happen in a vacuum.
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