ICmarkets
Short

AUDJPY Approaching Resistance, Potential Reversal

FX:AUDJPY   Australian Dollar / Japanese Yen
Reason for the trading strategy (technically):
AUDJPY is approaching its resistance at 78.79 (61.8% & 23.6%Fibonacci retracement, horizontal pullback resistance) where it may reverse down to its support at 75.82 (38.2% Fibonacci retracement ).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal may occur.
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