nelsyboy

SELL AUD/JPY (New FIB Idea)

Short
FX:AUDJPY   Australian Dollar / Japanese Yen
I have been experimenting with the FIB retrace tool. By placing the retrace tool at the top then placing the first 76.4% marker where it looks right, that projects the possible extent of the retrace. In this case it looks like 50% of the initial move up starting 19th March. Therefore, still plenty of pips to gain. It will be interesting to see how this pans out.
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