AUD/JPY testing major resistance, remain bearish
Price has continued its rise and is now testing strong resistance at 83.69 (Fibonacci extension, horizontal overlap resistance) and we expect to see a drop from here towards 82.96 support (Fibonacci retracement, horizontal overlap support). We keep our stop loss tight at 83.95 (Fibonacci retracement).
Stochastic (21,5,3) is seeing major resistance below the 93% where we expect price to continue to drop from.
Correlation analysis: We're expecting general JPY strength with EUR/JPY and USD/JPY expecting a drop too.
Stochastic (21,5,3) is seeing major resistance below the 93% where we expect price to continue to drop from.
Correlation analysis: We're expecting general JPY strength with EUR/JPY and USD/JPY expecting a drop too.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.