AUDJPY is facing bearish pressure from descending trend line resistance as well as 1st resistance which coincides with 161.8% fibonacci extension and 61.8% fibonacci retracement. Prices might push down towards 1st support which coincides with 61.8% fibonacci extension as well as horizontal swing low support. If prices break through the 1st resistance, it might push up towards 2nd resistance which is a horizontal swing high resistance as well as 61.8% fibonacci retracement.
Trading Recommendation
Entry: 84.188
Reason for Entry:
Descending trendline resistance, 161.8% fibonacci extension, 61.8% fibonacci retracement
Take Profit: 83.658
Reason for Take Profit:
Horizontal swing low support, 61.8% fibonacci extension
Stop Loss: 84.438
Reason for Stop Loss:
Horizontal swing high resistance, 61.8% fibonacci retracement