AUD/JPY dropping nicely, remain bearish - Forex247

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Friday, June 9, 2017

AUD/JPY dropping nicely, remain bearish

We remain bearish looking to sell below major resistance at 82.95 (Fibonacci retracement, Fibonacci extension, horizontal resistance) for a push down to at least 82.38 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) sees resistance below the 91% level where we expect a drop from.

Correlation analysis: Overall AUD weakness expected today with a drop on AUD/USD and AUD/JPY.

Sell below 82.95. Stop loss at 83.24. Take profit at 82.38.

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