FX.co ★ AUD/JPY Testing Resistance, Prepare For A Drop!

AUD/JPY is testing its resistance at 84.47 (50$ Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap resistance) where we expect to see a further drop to its support at 81.30 (horizontal swing low support). We do have to be cautious of the intermediate support at 82.74 (50% Fibonacci retracement, horizontal overlap support).

Stochastic ( 89, 5, 3) is testing its resistance at 97% where a corresponding reaction is expected.

Sell below 84.47. Stop loss 85.51. Take profit at 81.30