AUD/JPY Is In A Channel Breakout

Bullish

USDX is headed down, but is uncommitted at the time of this post. AUD/JPY completed 5 waves down so it’s now looking for an a-b-c correction.

IF we get traction, we are looking for a continuation to the ATR Target 81.10 area. Watch the USDX for any change in direction. The ATR for the pair currently is 75 pips per day and its 180 day average is 75 pips.

AUD/JPY Channel Breakout

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