Hello,
I am going to post all analyses made on the Monthly time frame.
Let’s start with the AUD/JPY.
On the Monthly view, it seems that the AUD/JPY is below a medium-term resistance level >> short opportunity ??
The AUD/JPY is currently below a major resistance area that might give us a nice opportunity for a short position.
This resistance area also corresponds to
• The upper line of an Andrews’ Pitchfork, that models a bearish regression channel.
• A Fibonacci cluster; the 50% & 61.8% Fibonacci levels of the previous bearish impulse
Here are the three Main Target Profits according to the Fibonacci expansion levels: 83.12 ; 78.68 ; 71.50.
What do you think about that?
