AUDJPY approaching resistance, potential drop!
AUDJPY is approaching our first resistance at 83.188 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 82.104 (horizontal overlap support, 38.2% Fibonacci retracement, 100% Fibonacci extension, short term ascending support line).
RSI (89) is also seeing a bearish exit where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also seeing a bearish exit where we might see a corresponding drop in price.
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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