AUDJPY Daily Analysis | 6 April 2020
Hey guys! We have a nice setup on AUD/JPY.
Price is approaching our first resistance at 66.704, in line with our 78.6% fibonacci retracement and 100% fibonacci extension as well as the short term descending resistance line where we could be seeing a reversal below this level. We look to play a drop to our first support level at 63.857 which is in line with our -27.2% and 50% fibonacci retracement. Stochastics is approaching resistance as well where we could see a reversal below this level.
Price is approaching our first resistance at 66.704, in line with our 78.6% fibonacci retracement and 100% fibonacci extension as well as the short term descending resistance line where we could be seeing a reversal below this level. We look to play a drop to our first support level at 63.857 which is in line with our -27.2% and 50% fibonacci retracement. Stochastics is approaching resistance as well where we could see a reversal below this level.
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Follow and Trade this analysis from your Charts. FXCM now Integrated with TradingView. Contact FXCM for more information.
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.