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MEX_Exchange

AUDJPY forming a nice reversal pattern, remain bearish

Short
Australian Dollar / Japanese Yen (FX:AUDJPY)  
MEX_Exchange  
FX:AUDJPY   Australian Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns AUDJPY aud jpy audjpyshort audjpylong audjpysell audjpydaily audjpynews forexsignals
101
0
trendanalysis harmonicpatterns chartpattern audjpy aud jpy audjpyshort audjpylong audjpysell audjpydaily audjpynews forexsignals
Sell below 87.89. Stop loss at 88.47. Take profit at 86.69.
Reason for the trading strategy (technically):
Price is forming a nice reversal below 87.89 resistance (Fibonacci retracement, Elliott wave structure, triangle formation) and we expect to see a nice break out from here to push price down towards 86.69 support (Fibonacci retracement, horizontal overlap support).
RSI (34) is right on pullback resistance where we expect a corresponding drop.
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