AUD/JPY forming a nice reversal pattern, remain bearish

The price is forming a nice reversal below 87.89 resistance (Fibonacci retracement, Elliott wave structure, triangle formation) and we expect to see a nice break out from here to push the price down towards 86.69 support (Fibonacci retracement, horizontal overlap support).

RSI (34) is right on pullback resistance where we expect a corresponding drop.

Sell below 87.89. Stop loss is at 88.47. Take profit is at 86.69.


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