Technical Analysis

AUD/JPY rebounds above 61.eight% retracement

AUD/JPY rebound extends

It is a occasions like these that I feel Fibonacci retracements work greatest. They’re a great way to manage threat within the insanity and the 61.eight% stage typically determines whether or not we see a full retracement or recent lows.

For the time being, AUD/JPY is as much as 74.50 which is above the 61.eight% retracement irrespective of the way you draw it. In an excellent world, you’d prefer to see it spend a while up there however it’s an excellent signal.

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