AUDJPY approaching resistance, potential drop!

2018년 9월 13일

AUDJPY is approaching our first resistance at 80.64 (horizontal overlap resistance, 38.2%, 61.8% Fibonacci retracement, 61.8%, 100% Fibonacci extension, bearish channel resistance) and a strong drop might occur below this level pushing price down to our major support at 78.37 (bearish channel support, 100% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (89) is also approaching resistance a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.