MEX_Exchange

AUDJPY dropping perfectly towards profit target, remain bearish

Short
FX:AUDJPY   Australian Dollar / Japanese Yen
Sell below 84.70. Stop loss at 85.71. Take profit at 83.90.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and is fast approaching our profit target. We remain bearish below 84.70 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 83.90 support (Fibonacci retracement, horizontal pullback support).
Stochastic (89,5,3) is seeing strong resistance below 90% where we expect a further drop from.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.