Hey guys! We have a nice setup on AUD/JPY.
Price is approaching our first resistance at 66.704, in line with our 78.6% fibonacci retracement and 100% fibonacci extension as well as the short term descending resistance line where we could be seeing a reversal below this level. We look to play a drop to our first support level at 63.857 which is in line with our -27.2% and 50% fibonacci retracement. Stochastics is approaching resistance as well where we could see a reversal below this level.
Price is approaching our first resistance at 66.704, in line with our 78.6% fibonacci retracement and 100% fibonacci extension as well as the short term descending resistance line where we could be seeing a reversal below this level. We look to play a drop to our first support level at 63.857 which is in line with our -27.2% and 50% fibonacci retracement. Stochastics is approaching resistance as well where we could see a reversal below this level.
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