AUDJPY approaching major resistance, potential drop!

FX:AUDJPY   Australian Dollar / Japanese Yen
AUDJPY is approaching strong resistance at 83.31 ( Fibonacci retracement , Fibonacci extension , horizontal overlap resistance) and a strong reaction could occur at this level to push price down to major support at 81.56 ( Fibonacci extension , horizontal swing low support). We do have to be cautious about our intermediate support at 82.12 ( Fibonacci retracement , horizontal overlap support) as that level needs to be broken to open a further move down.

Stochastic (34,5,3) is seeing major resistance at 95% where a corresponding reaction could occur.

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This analysis is provided as general market commentary and does not constitute investment advice.
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