AUDJPY Approaching Resistance, Potential For A Reversal

By ICmarkets
Broker
AUDJPY is approaching its resistance at 81.82(100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 80.73 (38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur. We have also identified a bearish divergence with price that contributes to our bearish bias.
audAUDJPYCADChart PatternschfEURHarmonic PatternsjpyTrend AnalysisUSD
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.

Disclaimer