FX.co ★ AUDJPY testing 1st resistance, potential for a further drop!

AUDJPY is testing our 1st resistance at 76.77 where the horizontal overlap resistance and 61.8% fib retracement are. Price could touch 1st resistance and drop from there. Ichimoku also indicates that further downside will come.

Trading Recommendation

Entry: 76.77

Reason for Entry:

horizontal overlap resistance and 61.8% fib retracement

Take Profit: 76.46

Reason for Take Profit:

Horizontal pullback support

Stop Loss: 77.18

Reason for Stop Loss:

Horizontal swing high resistance