AUDJPY is approaching resistance, potential for a drop!

5 באפר׳ 2018

AUDJPY is approaching its major resistance at 82.504(100% Fibonacci extension, 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where a potential reaction may occur, pushing price down to its support at 81.479 (61.8% Fibonacci retracement, horizontal swing low support). We have also identified another resistance at 82.996 (61.8% Fibonacci retracement).

Stochastic (89, 5, 3) is at 98% resistance where a corresponding reaction may occur.