AUDJPY – Possibly forming a bullish reverse Head and Shoulders p
AUDJPY - Intraday - We look to Buy a break of 72.16 (stop at 71.86)
The 423.6% Fibonacci extension level of the 76.28-75.13 move is at 71.40. A Doji style candle has been posted from the base. A bullish reverse Head and Shoulders is forming. Trend line resistance is located at 72.16. A break of 72.16 is needed to confirm follow through bullish momentum. The formation has a measured move target of 73.75.
Our profit targets will be 72.75 and 74.00
Resistance: 72.16 / 73.07 / 73.75
Support: 71.23 / 71.40 / 71.00
The 423.6% Fibonacci extension level of the 76.28-75.13 move is at 71.40. A Doji style candle has been posted from the base. A bullish reverse Head and Shoulders is forming. Trend line resistance is located at 72.16. A break of 72.16 is needed to confirm follow through bullish momentum. The formation has a measured move target of 73.75.
Our profit targets will be 72.75 and 74.00
Resistance: 72.16 / 73.07 / 73.75
Support: 71.23 / 71.40 / 71.00
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