ICmarkets

AUDJPY Approaching Resistance, Potential Reversal

Short
FX:AUDJPY   Australian Dollar / Japanese Yen
AUDJPY is approaching its resistance at 82.23 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 82.23 (50% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.

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