AUDJPY approaching resistance, potential drop!
AUDJPY is approaching our first resistance at 83.02 (horizontal swing high resistance, 61.8% Fibonacci retracement) 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 81.22 (horizontal swing low support, 61.8% Fibonacci extension, 78.6% Fibonacci retracement).
RSI (89) is also approaching our major resistance and 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.
RSI (89) is also approaching our major resistance and 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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