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AUDJPY approaching resistance, potential drop!
AUDJPY is approaching our first resistance at 80.71 (horizontal overlap resistance, 38.2%, 61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 78.44 (100% Fibonacci extension, 76.4% Fibonacci retracement).
RSI is also facing bearish pressure from its descending resistance line and a reaction below 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.
RSI is also facing bearish pressure from its descending resistance line and a reaction below 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.
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