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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/JPY dropping perfectly as expected, remain bullish for a further drop

The price has reached our selling area and reacted off it perfectly. We remain bearish looking to sell on strength below major resistance at 88.26 (Fibonacci extension, Elliott wave theory) for a continued drop to at least 87.27 support (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) has started dropping from our 98% resistance nicely.

Correlation analysis: AUD weakness is expected today with AUDUSD similarly testing major resistance and expecting a drop.

Sell below 88.26. Stop loss is at 88.68. Take profit is at 87.27.

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