Looking at a daily chart of AUDJPY, there is a confluence of bullish factors at 90 that make that level look good for a long:
1. The 23.6% Fib at 89.98 is key support for the harmonic pattern to play out.
2. The 61.8% retracement of the February lows/highs comes in at 90.04.
The risk/reward at that level is very much in favor of longs, and is something to watch for if price tests down there. 90.70 is currently holding as solid support.
1. The 23.6% Fib at 89.98 is key support for the harmonic pattern to play out.
2. The 61.8% retracement of the February lows/highs comes in at 90.04.
The risk/reward at that level is very much in favor of longs, and is something to watch for if price tests down there. 90.70 is currently holding as solid support.