AUDJPY approaching resistance, potential drop!
AUDJPY is approaching our first resistance at 81.97 (horizontal pullback resistance, 61.8% Fibonacci retracement, 61.8%, 100% Fibonacci extension, long term descending resistance line) where a strong drop might occur above this level pushing price down to our major support at 80.79 (horizontal overlap support, 38.2%, 61.8% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and we might see a drop in price when it reacts off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching resistance and we might see a drop in price when it reacts 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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