FX.co ★ AUD/JPY drop in progress, remain bearish

We remain bearish below major resistance at 81.91 (Fibonacci retracement, Fibonacci projection, horizontal resistance) for a further drop to 80.43 (Fibonacci retracement, multiple Fibonacci projections, horizontal overlap support, recent swing low support) as the first big level to play to.

RSI (21) is seeing major descending resistance which is keeping the bearish move.

Sell below 81.91. Stop loss at 82.65. Take profit at 80.43.