FX.co ★ AUD/JPY approaching resistance, potential drop!

AUD/JPY is approaching our first resistance at 79.01 (horizontal pullback resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur to our major support at 78.39 (horizontal swing low support, 50% Fibonacci retracement). Stochastic (34,5,3) is also nearing resistance. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.