FX.co ★ AUD/JPY on major resistance, prepare to sell

Price is now testing major resistance at 87.49 (Fibonacci extension, horizontal resistance, bearish divergence) where we expect a drop to at least 86.45 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance and also bearish divergence signaling an impending bearish reversal is approaching.

Sell below 87.49. Stop loss at 87.68. Take profit at 86.45.