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

AUDJPY is reversing from 1st resistance where the horizontal swing high ,78.6% fib retracement and 78.6% fib extension are. Stochastics also show that price is reaching resistance.

Trading Recommendation

Entry: 75.867

Reason for Entry:

horizontal swing high ,78% fib retracement and 78.6% fib extension

Take Profit: 75.296

Reason for Take Profit:

61.8% fib retracement

Stop Loss: 76.416

Reason for Stop Loss:

127% fib retracement