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andrewunknown
Jul 31, 2013 12:23 AM

AUD/JPY: Leg CD Underway Toward 80 Short

Australian Dollar/Japanese YenFXCM

Description

AUD/JPY continues to crumble, breaking beneath bear flag diagonal support
and potentially setting off the final, 1000-pip leg of an ABCD begun with late
April's highs around 102. Intra-pattern horizontal support at 89 and 89.80
has cleared. The next major horizontal support comes at 87.50; then nothing
until 83 and finally the full measured move target between 79-80.
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