AUDJPY seems to have dropped from MPP & Fibonacci 50% level on Daily chart. (Below)
We can expect the price might drop down to Fib138.2% (or even Fib161.8%). Stochastic on the Daily chart also looks good to Short.
Let’s look for the Sell zone. I would like to propose the following 2 zones,
If you are Day-Trading, your target should be DM1-DS2 zone (85.21-85.47).
If you are Swing Trading based on the Daily chart, your target should be MM1 (78.75).
Hope you find this post helpful.
YJ Baik – Forex.Today @ Kyoto