AUDJPY Approaching Resistance, Potential Reversal
Reason for the trading strategy (technically):
AUDJPY is approaching its resistance at 78.79 (61.8% & 23.6%Fibonacci retracement, horizontal pullback resistance) where it may reverse down to its support at 75.82 (38.2% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal may occur.
AUDJPY is approaching its resistance at 78.79 (61.8% & 23.6%Fibonacci retracement, horizontal pullback resistance) where it may reverse down to its support at 75.82 (38.2% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal may occur.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.