AUDJPY approaching resistance, potential drop!

11 พ.ค. 2018

Price is approaching our first resistance at 82.59 (horizontal swing high resistance, 50% Fibonacci retracement) and a strong drop might occur below this level, pushing price down to our major support at 81.19 (horizontal swing low support, 61.8% Fibonacci extension, 78.6% Fibonacci retracement). A breakout below our intermediate support at 81.98 (horizontal overlap support, 38.2% Fibonacci retracement) might provide the bearish acceleration to our major support level.
Stochastic (89,5,3) is also approaching our major resistance where a reaction off this level might be a good precursor for a potential drop in price.
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