Forex Trading News & Analysis

AUD/JPY profit target reached, prepare to sell

AUD/JPY profit target reached 2 days ago. We prepare to sell below major resistance at 85.75 (Fibonacci retracement, horizontal pullback resistance, and Fibonacci extension) for a push down to 84.53 support (Fibonacci retracement, swing high support).

Stochastic (55,5,3) is seeing resistance at 96% level where price has still a bit of upside to rise before it reaches it.

Sell below 85.75. Stop loss is at 86.51. Take profit is at 84.53.

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