AUD/JPY is testing its resistance at 84.47 (50$ Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap resistance) where we expect to see a further drop to its support at 81.30 (horizontal swing low support). We do have to be cautious of the intermediate support at 82.74 (50% Fibonacci retracement, horizontal overlap support).
Stochastic ( 89, 5, 3) is testing its resistance at 97% where a corresponding reaction is expected.
Sell below 84.47. Stop loss 85.51. Take profit at 81.30
The material has been provided by InstaForex Company – www.instaforex.com
AUD/JPY is testing its resistance at 84.47 (50$ Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap resistance) where we expect to see a further drop to its support at 81.30 (horizontal swing low support). We do have to be cautious of the intermediate support at 82.74 (50% Fibonacci retracement, horizontal overlap support).
Stochastic ( 89, 5, 3) is testing its resistance at 97% where a corresponding reaction is expected.
Sell below 84.47. Stop loss 85.51. Take profit at 81.30
The material has been provided by InstaForex Company – www.instaforex.com
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