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

AUDJPY is testing our 1st resistance at 76.44 where the horizontal overlap resistance and 50% fib retracement are. Price could touch 1st resistance and drop from there. Ichimoku also indicates that further downside will come.

Trading Recommendation

Entry: 76.44

Reason for Entry:

horizontal overlap resistance and 50% fib retracement

Take Profit: 76.06

Reason for Take Profit:

Horizontal swing low

Stop Loss: 76.76

Reason for Stop Loss:

Horizontal swing high resistance