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

Atlanta Fed GDPNow remains unchanged at 1.6%
US: Retail sales surge back – ING
USD/CAD spikes to session tops, closer to 1.3100 mark amid tumbling Oil prices
Fitch affirms Germany at AAA with a stable outlook
Eurozone May current account balance €29.7 billion vs €20.9 billion prior

Leave a Reply

Your email address will not be published.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