AUDJPY approaching resistance, potential drop!
AUDJPY is approaching our first resistance at 81.96 (horizontal overlap resistance, 100% FibonaccI extension) which coincides with our short term descending resistance line. A strong reaction might occur below this level, pushing price down to our major support at 81.14 (horizontal swing low support).
Stochastic (34,5,3) is also approaching our major resistance where a reaction off this level might be a good precursor for 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 (34,5,3) is also approaching our major resistance where a reaction off this level might be a good precursor for 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.
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