Chart of the Day -AUDJPY- (Dec. 3rd 2018)

4th December 2018 Off By binary
Chart of the Day -AUDJPY- (Dec. 3rd 2018)

The AUDJPY has a bull flag formation which points to the 85.81 level.

The AUDJPY broke higher above the 38% retracement and now targets the 61.8% retracement near 85.50 with a bull flag formation supporting the move higher. The retracement in November was also limited to just the 38% Fib. and shallow pullbacks such as this tend to be continuation patterns. Watch the confluence of the 50% Fib and the yearly high at 84.435 as the closest area of resistance.

ForexAnalytix.com/blog/wp-content/uploads/2018/12/audjpy.png” alt=”AUDJPY Bull Flag” title=”AUDJPY Daily Chart” itemprop=”contentURL”>

Blake Morrow

The post Chart of the Day -AUDJPY- (Dec. 3rd 2018) appeared first on ForexAnalytix – Blog.

Read more and Click Here To Get Started