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ICmarkets
Jan 16, 2019 3:17 AM

AUDJPY Approaching Resistance, Potential Reversal Short

Australian Dollar/Japanese YenFXCM

Description

AUDPY is approaching its resistance at 78.79 (23.6% & 61.8% Fibonacci retracement , horizontal pullback resistance) where it could reverse down to its support at 75.75 (38.2% Fibonacci retracement , horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal may occur.
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