AUDJPY Triangle breakout

Feb 06, 2023

Bullish: We are currently @ 91.34 in a range and a Triangle. If we can break the triangle, we are looking for continuation to the ATR target @ 92.40 area with a further target the 1.618 Fibo @ 92.49 We have convergence in play for continuation, but the AJ typically is correlated against the dollar. Watch the USDX for direction. The average daily true range (ATR) for the pair is 166 pips and it’s 180 day average is 161 pips per day. USDX is currently threatening UP.