Dear Carry Traders,

Today, I would like to pick AUDJPY pair.

This pair jumped up yesterday, after AUS Employment figures.

I am taking a Fibonacci of that move (see below).  The price came down to 61.8% and bounced up.

According to Hourly Stochastic, the price may want to come down a bit more.  Thus it makes sense to buy this pair from Fib 50% / DPP (87.30).

The stop should be at 87.00.    The conservative target will be 87.95 (Prev Top), and the aggressive target should be 88.42 (Fibonacci 138.2%)



I hope this setup helps you build your own.



YJ Baik – Forex.Today @ Tokyo

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