FX.co ★ AUDJPY testing downside confirmation , further drop expected

Price is facing bearish pressure from our downside confirmation, where we could see a further drop towards 1st support at 77.43 if price breaks below downside confirmation at 77.90. MACD is also indicating more bearishness to come.

Trading Recommendation

Entry: 77.61

Reason for Entry:

Horizontal swing low , 61.8% fib retracement

Take Profit :77.13

Reason for Take Profit: Horizontal swing low

Stop Loss: 77.93

Reason for Stop loss:

Horizontal swing high