AUDJPY is reacting below key graphical swing high resistance and 1st resistance at 83.656. A short term intraday drop below our resistance towards ascending trendline support and 1st support at 83.063 could be possible. Stochastic is testing resistance where price pulled-back in the past as well.
Trading Recommendation
Entry: 83.656
Reason for Entry:
61.8% Fibonacci extension, Graphical swing high resistance
Take Profit: 83.063
Reason for Take Profit:
Ascending trendline support, graphical swing low support
Stop Loss: 84.227
Reason for Stop Loss:
127.2% Fibonacci retracement, 61.8% Fibonacci extension, Graphical swing high resistance.
