MEX_Exchange
Short

AUDJPY approaching major resistance, prepare to sell

FX:AUDJPY   Australian Dollar / Japanese Yen
Sell below 85.06. Stop loss at 05.25. Take profit at 84.38.
Reason for the trading strategy (technically):
Price is approaching major resistance at 85.06 ( Fibonacci extension , horizontal swing high resistance) and we expect a strong reaction from this level for a drop to at least 84.38 support ( Fibonacci retracement , horizontal overlap support).
Stochastic (34,5,3) is seeing strong resistance below 96% where we expect a further drop from.

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