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theforexarmy

AUDJPY below strong resistance, turn bearish

Short
Australian Dollar / Japanese Yen (FX:AUDJPY)  
theforexarmy  
FX:AUDJPY   Australian Dollar / Japanese Yen
AUDJPY audjpyshort audjpyidea audjpydaily audjpynews audjpylong aud jpy audjpyanalysis audjpy1hr audjpylongsetup audjpysell audjpytrade
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audjpy audjpyshort audjpyidea audjpydaily audjpynews audjpylong aud jpy audjpyanalysis audjpy1hr audjpylongsetup audjpysell audjpytrade
Sell below 87.05. Stop loss at 87.56. Take profit at 86.076.
Reason for the trading strategy (technically):
We are bearish below 87.05 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to 86.07 support (Fibonacci retracement).
Stochastic (21,5,3) is seeing a nice reaction from the 95% level.
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