Follow your guts, if you want to lose your money...
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AUD/JPY Price Analysis: H1 bears moving into gear
As illustrated below, the price of AUD/JPY is with the bulls for the time being, but the prior support would be expected to act as a resistance and failure on the retest opens risk to the downside. chart The 61.8% ratio is in confluence with this area of potential resistance located near 81 the figure. Before there, however, 80.95 is under pressure and could hold up as a 50% mean reversion level. chart From a daily perspective, the downside is compelling considering the W-formation which is a high completion rate reversion pattern. The price would typically retest the neckline of the formation, which in this ... (full story)