AUD/JPY: reversal?

Scott Barkley ProAct Traders

Bearish: Currently we are at 74.13 in a range. With negative employment rate (-5.3) as a catalyst, we are looking for an initial move to the ATR Target @ 73.64 and then a continuation later to the range bottom @ 72.45 area.. The average daily true range (ATR) for the pair currently is 70 pips. WATCH THE USDX for more clues.

Author

Scott Barkley

ProAct Traders

Scott Barkley is the President of ProAct Traders LLC located in Round Rock, Texas. Scott graduated from the institute For Latin American Studies in Cuernavaca, Mexico.

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