AUDJPY profit target reached perfectly, turn bearish

2016-11-07 16:47    Exness

Sell below 80.00. Stop loss at 80.66. Take profit at 79.26.

Reason for the trading strategy (technically):

Price spiked up this morning to reach our profit target perfectly. We now turn bearish below major resistance at 80.00 (Fibonacci projection, Fibonacci retracement, pullback resistance) for a push down to 79.26.

RSI (34) is approaching descending resistance which means a reversal is fast approaching.



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