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AUDJPY approaching resistance, potential drop!

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Australian Dollar / Japanese Yen (FX:AUDJPY)  
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FX:AUDJPY   Australian Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns AUDJPY aud jpy audjpylong audjpyshort Forex forextrading forexsignal
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trendanalysis harmonicpatterns chartpattern audjpy aud jpy audjpylong audjpyshort forex forextrading forexsignal
AUDJPY is approaching our first resistance at 78.71 (Horizontal pullback resistance, 61.8%, 100% fibonacci extension, 23.6% fiboancci retracement) and a strong drop might occur below this level pushing price down to our major support at 75.81 (100% fibonacci extension, Elliot wave structure).
RSI (55) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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