Technical Analysis

AUD/JPY rebounds above 61.8% retracement

AUD/JPY rebound extends

It’s a times like these that I think Fibonacci retracements work best. They’re a good way to control risk in the madness and the 61.8% level often determines whether we see a full retracement or fresh lows.

At the moment, AUD/JPY is up to 74.50 which is above the 61.8% retracement no matter how you draw it. In an ideal world, you’d like to see it spend some time up there but it’s a good sign.

ForexLive

Articles You May Like

Best Practices for Creating an Algo Trading System
Tutorial untuk pemula Olymp Trade
Learn THIS Technique and NEVER Lose Again In The Forex Market? (SIMPLE Yet WORKS 100%)
GBP/USD extends losses and drops below 1.2700 as May speaks ahead of Brexit “meaningful vote”
The conspiracy theory behind the latest rally in the Chinese yuan

Leave a Reply

Your email address will not be published. Required fields are marked *