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MEX_Exchange
16 sie 2017 02:34

AUDJPY testing major resistance, remain bearish  Short

Australian Dollar/Japanese YenFXCM

Opis

Sell below 86.57. Stop loss at 85.42. Take profit at 87.17.
Reason for the trading strategy (technically):
Price is back to testing our selling area. We remain bearish looking to sell below strong resistance at 86.57 (Fibonacci retracement, Fibonacci extension) for a corrective drop towards 85.42 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 91% and has reversed nicely from there.
Correlation analysis: We’re seeing JPY strength with drops on AUDJPY, EURJPY and USDJPY.

Komentarze
ms24pk
Hi, little correction needed in sl and tp. Anyway i agree with your idea.
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