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GhostAnymous
Oct 3, 2018 9:17 AM

AUDJPY -4h - short 

Australian Dollar/Japanese YenFXCM

Description

short
Comments
ICmarkets
Good call on AUDJPY thus far and there may be short term bearish potential as you have identified. The 1st support that we have found is at 80.62, which is just above the lower limit of your support zone. It is a horizontal overlap support, with 50% Fibonacci retracement and 100% & 61.8% Fibonacci extension. Stochastic is approaching its support at 4.8% where a corresponding bounce could occur. If there is a potential bounce, we may want to take a closer look at the 81.73 resistance level. It is a horizontal swing high resistance with a 61.8% Fibonacci retracement. Looking forward to seeing how things develop.

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