“AUDJPY approaching resistance, potential drop!” by trader easyMarkets — published September 12, 2018 — TradingView

AUDJPY             is approaching our first resistance at 80.64 (horizontal overlap resistance, 38.2%, 61.8% Fibonacci retracement , 61.8%, 100% Fibonacci extension , bearish channel resistance) and a strong drop might occur below this level pushing price down to our major support at 78.37 ( bearish channel support, 100% Fibonacci extension , 76.4% Fibonacci retracement ).
Stochastic (89) is also approaching resistance a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

Be the first to comment

Leave a Reply

Your email address will not be published.