Home AUD/JPY: Bulls eye 50% Fibo retracement to 75 the figure

AUD/JPY: Bulls eye 50% Fibo retracement to 75 the figure

Updated: 19 Jun. 2019 | 04:02

AUD/JPY is correcting the 9th June sell-off and has made it to the 38.20% Fibo retracement of the same range.
The cross has penetrated the 20-4HR SMA with eyes towards the 50% Fibo retracement that meets the 2nd June swing low.
This has forced stochastics into an overbought territory in a down-trending market, making for a good argument for a short according to such rules.
However, with risk on markets taking up the theme, the 50% retracement leve is not far off around 75 the figure.

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.