Dollar Australia / Yen JepangPenjualan
AUDJPY testing support, watch for breakout, potential drop!
AUDJPY is testing our first support at 82.48 (horizonal overlap support, 50% Fibonacci retracement) which coincides with our short term descending resistance line. If price breaks out below this level, a strong drop might occur, pushing price down to our major support at 81.93 (horizontal overlap support, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias.
RSI (55) is also reacting off its resistance, a good precursor for a potential 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 reacting off its resistance, a good precursor for a potential 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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