AUDJPY lining up for a nice potential drop!

AUDJPY is testing major resistance at 83.36 ( Fibonacci retracement , Fibonacci extension , horizontal overlap resistance, descending resistance, bearish divergence) and a strong drop could occur from here pushing price down to major support at 82.25 ( Fibonacci extension , horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance below 96% where a corresponding reaction could occur. We are also seeing bearish divergence vs price signalling that a reversal is impending.

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