AUD/JPY >> short opportunity ??

This is a discussion on AUD/JPY >> short opportunity ?? within the Forex forums, part of the Markets category; Hello, On the Monthly view, it seems that the AUD/JPY is below a medium-term resistance level >> short opportunity ?? ...

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Old Nov 7, 2017, 3:58am   #1
 
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AUD/JPY >> short opportunity ??

Hello,

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?
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