AUD/JPY – Starting a 5th wave
Bearish: We are currently @ 95.80 in a channel in a fractal 5th wave IF we can break the 0.500 Fibo support here, we are looking for a continuation to the S4 @ 95.39 with the overall target today the ATR target @ 95.00. Watch the USDX for direction. The average daily true range (ATR) for the pair is 104 pips per day and it’s 180 day average is 111 pips per day. USDX is currently moving up in a corrective move.