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      USD/JPY MACD indicates downside pressure

      The failure of MACD to test recent highs indicates that USD/JPY could be facing downside pressure soon.

      Over the past two weeks, it has become evident that a bearish divergence between USD/JPY spot and the MACD has developed, which typically implies weakness ahead. Additionally on a 4-hour chart, we can see that the MACD line pushed below its signal line, a further bearish forewarning.

      AUD/USD dumps on chinese data SHOCKER

      AUD/USD is on the offer and has made a low of 0.7038 so far, dropping 35 pips on recent trade. AUD/USD has dumped on the back of on the back of the Chinese data miss, lowest since March 2009.
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