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

Here is how FX hedge funds are trying to make a buck in this low volatility time (gold!)
USDCHF continues the pattern of trading above and below the 200 day MA
AUD/USD Technical Analysis: Bulls showing some resilience near 200-hour SMA
Position Trading Strategies for the Longer Term Prospective|swing forex trading strategy
Australia: February employment data preview

Leave a Reply

Your email address will not be published.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