AUDJPY approaching profit target, remain bearish
Sell below 83.83. Stop loss at 84.23. Take profit at 83.21.
Reason for the trading strategy (technically):
Price has continued to drop towards our profit target really nicely. We remain bearish below 83.83 resistance (Fibonacci retracement, pullback resistance, horizontal overlap resistance) for a further drop towards 83.21 support (Fibonacci retracement, horizontal swing low support).
Stochastic (89,5,3) is seeing good downside potential towards 4%.
Reason for the trading strategy (technically):
Price has continued to drop towards our profit target really nicely. We remain bearish below 83.83 resistance (Fibonacci retracement, pullback resistance, horizontal overlap resistance) for a further drop towards 83.21 support (Fibonacci retracement, horizontal swing low support).
Stochastic (89,5,3) is seeing good downside potential towards 4%.