alejotrader92
Long

AUD/JPY - Strong bullish signal

FX:AUDJPY   Australian Dollar / Japanese Yen
First of all we see that the price reversed strongly and we also notice that the reaction/drop after it reached the 61.8 was not to big. The price didn't fall too deep down. Conversely it kept pushing upward in short intervals. After it broke the 61.8 the price clearly used it as a support creating a short consolidation zone.
So we should wait for the price to test that little yellow zone above the 61.8% (in order to get a better R/B ratio)
If bears are not strong enough it won't even touch the 61.8 again. Conversely, it may seek the 80.65 where the next resistance is located.



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Trade closed: stop reached: Massive impact on the currency right after the Governor of the Reserve Bank of Australia spoke.
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