FX.co ★ AUD/JPY testing major resistance, remain bearish

Price is now testing major resistance at 84.23 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) and we expect price to react off this level and drop towards 83.27 support (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is seeing major resistance below the 92% level where we expect a drop from.

Correlation analysis: We're expecting overall JPY strength today with AUD/JPY and EUR/JPY both expecting drops.

Sell below 84.23. Stop loss at 84.64. Take profit at 83.27.