AUDJPY potential for dip | 22nd Oct

AUDJPY potential for dip | 22nd Oct for FX:AUDJPY by FXCM

AUDJPY potential for dip | 22nd Oct



Price has recently broke the ascending trendline and can potentially dip further down to the take profit level of 84.038 which is also 38.2% Fibonacci retracement and 100% Fibonacci projection . The take profit level is also a graphical overlap support. Our buy entry is placed at 86.243 where we are waiting for a retest before the dip further down.

Price has recently break out from the ascending trend line and can potentially retest the sell entry price of 0.74550 which is 50% Fibonacci retracement . Price can then potentially dip to the take profit level of 0.73810 which is also 38.2% Fibonacci retracement level and 78.6% Fibonacci projection level. Our bearish bias is supported by our moving averages as price is trading below it.

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