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FX.co ★ AUD/JPY dropping perfectly as expected, remain bearish for a further drop

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Forex Analysis:::2017-08-31T02:07:15

AUD/JPY dropping perfectly as expected, remain bearish for a further drop

The price has reached our selling area and dropped perfectly from there. We remain bearish looking to sell below major resistance at 87.74 (Fibonacci retracement, Fibonacci extension) for a push down to at least 86.48 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) is reacting nicely off our 95% resistance.

Sell below 87.74. Stop loss is at 88.06. Take profit is at 86.48.

AUD/JPY dropping perfectly as expected, remain bearish for a further drop

Analyst InstaForex
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