FX:AUDJPY Australian Dollar/Japanese Yen
AUDJPY has completed a precise pattern after a . of the xa leg followed by another . of ab. Although the pattern is technically complete, patterns will often test all of the levels in their potential reversal zones which typically consist of the area between .786xa and . A conservative entry is at the top of the PRZ, should price reach that level. This allows for a stop above structural S/R while maintaining a substantial risk-to-reward ratio. The new weekly provides a nice target as it is confluent with .618cd.