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MISSF0RTUNE

AUD/JPY = head and shoulder pattern

Australian Dollar / Japanese Yen (FX:AUDJPY)  
MISSF0RTUNE Updated   
FX:AUDJPY   Australian Dollar / Japanese Yen
Forex AUDJPY
4
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forex audjpy
The break out of the head and shoulder pattern indicates a trend reversal going down. However, the 0,618 retracement could be a support level for a long position. With as first target the 0,382 retracement.
Comment:
Noticed that the fibonnaci retracement is applied incorrect on this chart. Edit: the correct 0,382 retracement should be at 87.031 and the 0,618 at 87.466
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