Analysis

$AUDJPY–5th wave continuation?

Currently we are @ 86.86 and just breaking through the 1.618 Fibo.  This is a continuation of our January Pay Your Mortgage trade stated at 84.50.  We are looking for a move to the 2.270 Fibo top @ 86.67.  The average daily true range (ATR) for the pair currently is 73 pips.

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