AUDJPY facing bearish pressure| 1st July 2021

AUDJPY facing bearish pressure| 1st July 2021 for FX:AUDJPY by FXCM

AUDJPY facing bearish pressure| 1st July 2021



AUDJPY is facing bearish pressure. Prices might continue to drop upon breaking through support level in line with 50% Fibonacci retracement and 78.6% Fibonacci extension Fibonacci confluence area. Prices might drop towards support level in line with 78.6% Fibonacci retracement and -27.2% Fibonacci retracement Fibonacci confluence area. If prices bounce from our entry, prices might face resistance from horizontal pullback resistance in line with 50% Fibonacci retracement and 78.6% Fibonacci extension . MACD is also showing a bearish crossover, showing a further bearish pressure for prices.

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