AUDJPY approaching resistance, potential drop!

AUDJPY is approaching our first resistance at 81.86 (horizontal overlap resistance, 23.6%, 50%, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 80.62 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastics (89,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price.
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audAUDJPYaudjpylongaudjpyshorChart PatternsForexforexsignalsforextradingHarmonic PatternsjpyTrend Analysis

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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