AUDJPY Technical Analysis(1 hour) :2023-01-31

Deltafx Admin 31 January 2023

In a wide fluctuation range, we expect a decline after the simple and very popular ABCD pattern was completed and the upper limit was reached as a resistance level.

The expected targets are a combination of corrective Fibo areas and pivot points.

Areas based on the Fibo:

1.90.993

2.90.434

3.89856

The areas between the Fibo at the intersection with the 2 pivots mentioned above can also form resistance areas.

1.90.656

2.90.093

The entire wide range in the higher fractal is a correction of a declining range.

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