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AUD/JPY: Triangle Pattern Indicates Likely Move Lower

11/28/2023

Less than a minute

2023.11.28 09:26

Scott Barkley

Bearish: is currently at 98.18 in a triangle after putting in a double top. We are looking for a continuation to the ATR target at 97.60 with the further target for today the 1.618 Fibo at 97.35 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 75 pips per day and its 90-day average is 88 pips per day. USDX is currently moving down but near a bounce point.

AUDJPY – Triangle says down