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Setup:
· AUD/JPY broke below the large channel that dominated the price action since end of 2001
· High probability setup points to a move toward 38.2 Fib of the 56.20-91.37 AUD Rally
· Failure analysis points to a move toward the multi-year high
· High probability setup points to a move toward 38.2 Fib of the 56.20-91.37 AUD Rally
· Failure analysis points to a move toward the multi-year high
Key Levels - Current Price: 83.58
Level | Type | Significance |
91.37 | Resistance | Multi-Year High |
83.07 | Support | 23.6 Fib of the 56.20-91.37 AUD Rally |
77.94 | Support | 38.2 Fib of the 56.20-91.37 AUD Rally |
73.74 | Support | 50.0 Fib of the 56.20-91.37 AUD Rally |
69.65 | Support | 61.8 Fib of the 56.20-91.37 AUD Rally |
63.73 | Support | 78.6 Fib of the 56.20-91.37 AUD Rally |
56.20 | Support | Multi-Year Low |
Weekly Chart 03-24-06
Daily Chart 03-24-06
Daily Chart 03-24-06
Daily Chart 03-24-06
