AUDJPY Reversed Off Resistance, Prepare For Further Drop
Sell below 80.65.
Stop loss at 81.12.
Take profit at 79.77.
Reason for the trading strategy (technically):
AUDJPY reversed off its resistance at 80.65 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to drop further to its support at 79.77(61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop is expected.
Stop loss at 81.12.
Take profit at 79.77.
Reason for the trading strategy (technically):
AUDJPY reversed off its resistance at 80.65 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to drop further to its support at 79.77(61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop is expected.
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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.
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.