AUDJPY approaching resistance, potential drop!
AUDJPY is approaching our first resistance at 82.03 (38.2%, 76.4% Fibonacci retracement, horizontal swing high resistance, 100% Fibonacci extension, channel upper resistance). A strong reaction might occur at this level, pushing price down to our major support at 81.46 (horizontal overlap support, 50% Fibonacci retracement).
Stochastic (21,5,3) is also seeing a bearish divergence and is reacting off our major resistance at 94%, a good precursor of a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Stochastic (21,5,3) is also seeing a bearish divergence and is reacting off our major resistance at 94%, a good precursor of a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Trade closed: target reached
Caught the drop nicely to our major support :)
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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.
Come join us today at : easymarkets.com/
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.