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FX.co ★ AUD/JPY Testing Resistance, Prepare For A Drop!

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Forex Analysis:::2018-06-07T06:02:02

AUD/JPY Testing Resistance, Prepare For A Drop!

AUD/JPY is testing its resistance at 84.47 (50$ Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap resistance) where we expect to see a further drop to its support at 81.30 (horizontal swing low support). We do have to be cautious of the intermediate support at 82.74 (50% Fibonacci retracement, horizontal overlap support).

Stochastic ( 89, 5, 3) is testing its resistance at 97% where a corresponding reaction is expected.

Sell below 84.47. Stop loss 85.51. Take profit at 81.30

AUD/JPY Testing Resistance, Prepare For A Drop!

Analyst InstaForex
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