AUD/JPY approaching major resistance, remain bearish

The price continues to rise towards our major resistance area. We remain bearish looking to sell below 86.67 resistance (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) for a push down to at least 84.69 support (Fibonacci retracement, horizontal swing low support).

Stochastic (55,3,1) is seeing major resistance below 98% and we expect a corresponding reaction off this level.

Sell below 86.67. Stop loss is at 87.34. Take profit is at 84.69.


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