AUDJPY approaching resistance, potential drop!
AUDJPY is approaching our first resistance at 82.03 (38.2%, 76.4% Fibonacci retracement, horizontal swing high resistance, 100% Fibonacci extension, channel upper resistance). A strong reaction might occur at this level, pushing price down to our major support at 81.46 (horizontal overlap support, 50% Fibonacci retracement).
Stochastic (21,5,3) is also seeing a bearish divergence and is reacting off our major resistance at 94%, a good precursor of a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Stochastic (21,5,3) is also seeing a bearish divergence and is reacting off our major resistance at 94%, a good precursor of a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Trade closed: target reached:
Caught the drop nicely to our major support :)
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