AUD/JPY Approaching Resistance, Prepare For Further Drop

AUD/JPY is approaching its resistance at 82.35 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 81.91 (50% Fibonacci retracement, horizontal swing low support).

Stochastic (89, 5, 3) reversed off its resistance at 97% where a corresponding drop is expected.

AUD/JPY is approaching its resistance where we expect to see a further drop.

Sell below 82.35. Stop loss at 82.59. Take profit at 81.91.


The material has been provided by InstaForex Company -