AUDJPY approaching resistance, potential drop!
AUDJPY is approaching our first resistance at 83.58 (horizontal overlap resistance, 76.4% Fibonacci retracement, 61.8% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 82.70 (horizontal pullback support, 100% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also seeing a bearish divergence and is approaching resistance where we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
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Stochastic (89,5,3) is also seeing a bearish divergence and is approaching resistance where we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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