AUD/JPY Testing Resistance, Prepare For Reversal

AUD/JPY is testing its resistance at 81.79 (61.8% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 82.57 (61.8% Fibonacci extension, horizontal swing low support) is expected.

Stochastic (55, 5, 3) has reversed off its resistance at 95% where a corresponding drop is expected.

AUD/JPY is testing its resistance where we expect to see a reversal.

Sell below 81.79. Stop loss at 82.57. Take profit at 80.58.


The material has been provided by InstaForex Company -