MEX_Exchange
Short

AUDJPY testing major resistance, remain bearish

FX:AUDJPY   Australischer Dollar/Japanischer Yen
Sell below 86.57. Stop loss at 85.42. Take profit at 87.17.
Reason for the trading strategy (technically):
Price is back to testing our selling area. We remain bearish looking to sell below strong resistance at 86.57 ( Fibonacci retracement , Fibonacci extension ) for a corrective drop towards 85.42 support ( Fibonacci extension , horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 91% and has reversed nicely from there.
Correlation analysis: We’re seeing JPY strength with drops on AUDJPY , EURJPY and USDJPY .

Hi, little correction needed in sl and tp. Anyway i agree with your idea.
+1 Antworten
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