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Korora

AUD/JPY forming a nice reversal, time to start selling

Short
Australian Dollar / Japanese Yen (FX:AUDJPY)  
Korora Updated   
FX:AUDJPY   Australian Dollar / Japanese Yen
audjpyshort
7
0
audjpyshort
Price is about to find major resistance below the 83.09 resistance (Fibonacci retracement, horizontal overlap resistance, Elliott wave theory) and we expect a strong drop from this level towards 81.77 support (Fibonacci extension, horizontal swing low support, Elliott wave theory).Stochastic (21,5,3) is seeing major resistance below the 93% where we expect price to continue to drop from.Correlation analysis: We're expecting general JPY strength with USD/JPY expecting a drop too.

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Korora
AUD/JPY profit target reached, time to start selling
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