AUDJPY profit target reached, turn bearish

2016-10-26 16:39    Exness

Sell below 80.17. Stop loss at 80.70. Take profit at 79.40.

Reason for the trading strategy (technically):

Price rose and reached our profit target perfectly yesterday. We now turn bearish below major resistance at 80.17 (Fibonacci projection) for a push down to 79.40.

RSI (34) is right below major resistance at 61% where we expect a reaction from.

JPYAUD

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