AUD/JPY profit target reached prepare to sell

The price has shot up perfectly and reached our first profit target. We prepare to sell below major resistance at 87.00 (Fibonacci retracement, descending resistance, horizontal overlap resistance, bearish price action) for a push down to at least 86.01 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance below 94% and we expect a corresponding reaction similar to the one we're expecting on price.

Sell below 87.00. Stop loss is at 87.25. Take profit is at 86.01.


The material has been provided by InstaForex Company -