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.
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.
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