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AUDJPY experiencing major resistance, potential upcoming drop!

Short
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 audjpyshort audjpylong audjpysell audjpydaily audjpynews audjpyidea
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trendanalysis harmonicpatterns chartpattern audjpy aud jpy audjpyshort audjpylong audjpysell audjpydaily audjpynews audjpyidea
Price is now testing major resistance at 89.00 (Fibonacci extension, horizontal swing high resistance, bearish harmonic formation) and a potential major reversal could occur at this level to push price down towards 88.43 support (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is seeing major resistance below 98% where a corresponding reaction could occur.

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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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