AUDJPY - Short Trade short and long term
A Doji formed after candle hit resistance line. Next day an engulfing candle was formed.
I have located 91.956 as a cautious area because that has played as S&R in the past.
My first target is 90.508 ( possible double bottom)
Second target is 89.279 ( 23% on fib level)
Third target area for the LONG term is 86.323 ( 50% on the fib level plus GIVE/TAKE few pips is around the same size as the last range. Measuring movement)
I'm not sure when the Fourth will hit BUT that would mean a new lower- low on the weekly Time frame
I have located 91.956 as a cautious area because that has played as S&R in the past.
My first target is 90.508 ( possible double bottom)
Second target is 89.279 ( 23% on fib level)
Third target area for the LONG term is 86.323 ( 50% on the fib level plus GIVE/TAKE few pips is around the same size as the last range. Measuring movement)
I'm not sure when the Fourth will hit BUT that would mean a new lower- low on the weekly Time frame