Tickmill
Short

SHORT AUDJPY Approaching Resistance, Prepare For A Drop

FX:AUDJPY   Australian Dollar / Japanese Yen
AUDJPY Approaching Resistance, Prepare For A Drop
AUDJPY is approaching its resistance at 78.07 (61.8% Fibonacci extension , 38.2% Fibonacci retracement , horizontal swing high resistance) where it could potentially drop to its support at 76.35 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its support where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice.
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