AUDJPY Approaching Resistance, Potential For A Reversal
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.
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.
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