jbourgault
Long

AUDJPY long after ABC retracement is over

FX:AUDJPY   Australian Dollar/Japanese Yen
27 0 1
Given the last FOMC statement that was received as dovish, we might see the current risk mood continue to develop a little. However, OIL             might go in correction soon which should lead the market down again.

Regarding AUDJPY             , the last wave 0.5 fib level is perfectly matching the higher degree wave 0.382 fib level. I'll would wait for an ABC correction to unfold before going long up to the previous high (which could correlated with the overall market going down because of OIL             starting to correct).
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