AUD/JPY: Clear target now at 93.05
The double-bottom formation just above a 61.8% Fibo allied with short-covering ahead of the election has had the desired affect (for us bulls that is) and there is now a clear technical target at 93.05 (see chart).
I booked some partial profits yesterday at 89.70 on average and although I wish I still had the whole position now, it made sense at the time. I will be patient now and wait for 93.00 before booking more profits. If USD/JPY breaks through 100.00, then we will see 93.00 in AUD/JPY very quickly imho.