FX.co ★ AUD/JPY testing major resistance, prepare for a drop

The price is testing major resistance at 88.98 (Fibonacci extension, horizontal swing high resistance, bearish harmonic formation) and we expect to see a strong reaction off this level to push the price down towards 88.41 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance below 96% where further bearish momentum is expected.

Sell below 88.98. Stop loss at 89.22. Take profit at 88.41.