17.09.202013:56 AUDJPY testing downside confirmation, potential for a further drop!

Exchange Rates 17.09.2020 analysis

AUDJPY is testing our downside confirmation at 76.47 where the horizontal pullback support and 23.6% fib retracement are. Price could touch downside confirmation and drop from there. EMA also indicates that further downside will come.

Trading Recommendation

Entry: 76.47

Reason for Entry:

horizontal pullback support and 23.6% fib retracement

Take Profit: 76.11

Reason for Take Profit:

Horizontal swing low support

Stop Loss: 76.77

Reason for Stop Loss:

50% Fibonacci retracement, horizontal overlap resistance

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

Performed by Dean Leo,
Analytical expert
InstaForex Group © 2007-2020
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