FX.co ★ Daily Video Analysis: AUDJPY approaching resistance, potential drop!

Today we take a look at AUDJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure as it approaches the descending trendline resistance, and Stochastics is also showing signs of bearish pressure. We could see a reversal at Sell Entry, in line with 78.6% Fibonacci retracement and descending trendline resistance, and further drop towards Take Profit levels, in line with 23.6% Fibonacci retracement, 50% Fibonacci retracement and horizontal swing low support respectively.