AUD/JPY approaching resistance, prepare for a reversal

AUD/JPY is approaching its resistance at 78.79 (61.8% & 23.6%Fibonacci retracement, horizontal pullback resistance) where it is expected to reverse down to its support at 75.82 (38.2% Fibonacci retracement).

Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected.

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

Sell below 78.79. Set stop loss 80.88 and take profit at 75.82.

analytics5c340ba9f0513.png

The material has been provided by InstaForex Company - www.instaforex.com