AUDJPY pair moved up so much yesterday, and I would like to buy the dip.
Here is the hourly chart.
I would like to buy from one of the BUY ZONEs described above.
Another way to look at this pair is … take a fibonacci of yesterday’s high and low. (See below)
Somewhere between Fib38.2% – Fib61.8% is the BUY zone. However, I am looking FIb38.2% overlaps with DPP and WR2 Pivot points.
Thus 91.20-30 area seems to be the sweat spot.
As a target, you could aim for Fib 138.2% or Fib161.8% (overlaps with DR2).
YJ Baik – Forex.Today @ Tokyo