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01.07.202006:58 Forex Analysis & Reviews: AUDJPY facing bearish pressure, potential for further drop!

Exchange Rates 01.07.2020 analysis

Trading Recommendation

Entry: 74.68

Reason for Entry: Horizontal swing high resistance

Take Profit :74.15

Reason for Take Profit: 38 fib retracement

Stop Loss:75.03

Reason for Stop loss: Horizontal swing high resistance

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert of InstaForex
© 2007-2021
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Price is holding above the ascending trendline support, however we are expecting the price to be making a short-term bearish drop as price has approached a strong resistance level where price reversed thrice at that level. We can expect the price to drop from the 1st Resistance and ride the bearish.
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