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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