AUDJPY lining up for a nice potential drop!
AUDJPY is testing major resistance at 83.36 ( Fibonacci retracement , Fibonacci extension , horizontal overlap resistance, descending resistance, bearish divergence) and a strong drop could occur from here pushing price down to major support at 82.25 ( Fibonacci extension , horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance below 96% where a corresponding reaction could occur. We are also seeing bearish divergence vs price signalling that a reversal is impending.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is seeing major resistance below 96% where a corresponding reaction could occur. We are also seeing bearish divergence vs price signalling that a reversal is impending.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results