AUDJPY approaching resistance, potential drop!
AUDJPY is approaching our first resistance at 82.13 (horizontal swing high resistance, 61.8%, 100% Fibonacci extension, 38.2% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 80.48 (horizontal swing low support). A breakout below our intermediate support at 80.81 (horizontal swing low support, 100% Fibonacci extension) might provide the bearish acceleration to our major support level.
RSI (55) is also approaching our resistance line and we 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 (55) is also approaching our resistance line and we 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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