I’m loathe to speak too much about technical levels in these types of markets but the AUD/JPY is a special case I think. It has perhaps just made a major top at 88.00 (which is a major 61.8% retracement level) and the vertical fall from there would seem to confirm its importance.
The 61.8% retracement of last week’s 88.00/76.90 collapse comes in at 83.70, which has been the high so far this morning. Just a thought.
