FX.co ★ AUDJPY facing bearish pressure

Price may be reversing from the 1st resistance at 81.353 at 61.8% Fibonacci extension towards the 1st support at 80.612 in line with 61.8% fibonacci retracement and 61.8% fibonacci extension. Otherwise price may rise to 2nd resistance at 81.613

Trading Recommendation

Entry: 81.353

Reason for Entry:

61.8% Fibonacci retracement

Take Profit: 80.612

Reason for Take Profit:

61.8% Fibonacci retracement and 61.8% Fibonacci extension

Stop Loss: 81.613

Reason for Stop Loss:

Horizontal swing high