AUDJPY Testing Resistance, Prepare For A Reversal!
Sell below 83.58.
Stop loss at 84.15.
Take profit at 82.70.
Reason for the trading strategy (technically):
AUDJPY is testing its resistance at 83.58 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance) where it could reverse down to its support at 82.70 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected.
Stop loss at 84.15.
Take profit at 82.70.
Reason for the trading strategy (technically):
AUDJPY is testing its resistance at 83.58 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance) where it could reverse down to its support at 82.70 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected.