AUDJPY LONG POSITION TOWARD 50% FIB RETRACEMENT LEVEL
The AUDJPY has been in a consolidation structure for roughly 16 months coming from a sharp dive during the 2008 recession. Since then it has retraced 100% and then went back to the previous 38% level. it is now making it's way back up to the current weekly 38% level and then toward the 50% level which is coincidentally the monthly 61.8% level. Everything is aligned perfectly with this pair for the long in months to come.
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