AUD/JPY – Wedge breakout points to a double Bottom

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AUD/JPY – Wedge breakout points to a double Bottom

By Pro Act Traders — Author

Note: FOMC Today!

Forex Strategy is Bearish: We are currently @ 97.32 in a range. We broke out of the wedge, but it could still be a corrective channel. If we get a turn here, we are looking for a continuation to the ATR target @ 96.20 area, with the overall target the Range Bottom/S5. A bounce targets the return to the 0.618 Fibo @ 99.26. We have convergence on the 60 min chart. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 121 pips per day and it’s 90-day average is 118 pips per day.

Posted to Introduction to Forex Targe… on Dec 18, 2024 — 8:12 AM

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{[comment.author.username]} {[comment.author.username]} — Marketfy Staff — Maven — Member

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