Hello,
On the Monthly view, it seems that the AUD/JPY is below a medium-term resistance level >> short opportunity ??
The AUD/JPY is currently below a major resistance area that might give us a nice opportunity for a short position.
This resistance area also corresponds to
· The upper line of an Andrews’ Pitchfork, that models a bearish regression channel.
· A Fibonacci cluster; the 50% & 61.8% Fibonacci levels of the previous bearish impulse
Here are the three Main Target Profits according to the Fibonacci expansion levels: 83.12 ; 78.68 ; 71.50.
What do you think about that?
On the Monthly view, it seems that the AUD/JPY is below a medium-term resistance level >> short opportunity ??
The AUD/JPY is currently below a major resistance area that might give us a nice opportunity for a short position.
This resistance area also corresponds to
· The upper line of an Andrews’ Pitchfork, that models a bearish regression channel.
· A Fibonacci cluster; the 50% & 61.8% Fibonacci levels of the previous bearish impulse
Here are the three Main Target Profits according to the Fibonacci expansion levels: 83.12 ; 78.68 ; 71.50.
What do you think about that?
