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Forex Trading: AUDJPY Short Position at 8327

Jamie Saettele, CMT

The AUDJPY formed a JS Spike on the weekly and once again failed to close the week above the 61.8% retracement of the decline from the March high. Last week was the 6th week since June that price traded above the Fibonacci level but failed to close above it. The level is clearly one of importance. Near term resistance is 8328.

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