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

Price is now testing a major level of resistance at 84.88 (Multiple fibonacci extensions) and we expect a strong reaction from here for a drop to at least 83.90 (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is seeing strong resistance below 90% where we expect a drop from.

Sell below 84.88. Stop loss at 85.41. Take profit at 83.90.