FOREX New York Session Video September 10, 2007

The AUD/JPY had been in an uptrend since the early part of the Asian session. During its climb, it broke the 21 and 55 emas on the 15-minute chart, then reached the 200 ema about an hour into the New York session. In that vicinity, the Aussie Yen found more than a 200 ema – it was also home to a psychological level and the top of the channel. The 3-minute chart provided an outstanding entry, and the width of the channel predicted the ultimate downside target with almost eerie accuracy.