AUD/JPY Approaching Resistance, Prepare For Reversal

The AUD/JPY pair is approaching its resistance at 78.79 (61.8% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 75.75 (38.2% Fibonacci retracement).

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

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

Sell below 78.79. Stop loss at 80.88. Take profit at 75.75.


The material has been provided by InstaForex Company -