FX.co ★ AUDJPY testing 1st resistance , further drop expected !

Price is facing bearish pressure from our 1st resistance where the horizontal swing high lines up with the 61.8% fib extension. We could see a further drop towards 1st support at 77.10 at the horizontal swing low. MACD is also indicating more bearishness to come.

Trading Recommendation

Entry: 77.93

Reason for Entry:

horizontal swing high, the 61.8% fib extension

Take Profit :77.10

Reason for Take Profit: Horizontal swing low

Stop Loss: 78.67

Reason for Stop loss:

100% fib extension