AUD/JPY profit target reached once again, prepare to sell

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The price has dropped perfectly to our profit target once again. We look to sell on major resistance at 88.40 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a further drop to at least 87.91 (Fibonacci extension, horizontal swing low support).

Stochastic (21,5,3) is seeing major resistance below 96% where a corresponding drop could occur.

Sell below 88.40. Stop loss at 88.66. Take profit at 87.91.

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The material has been provided by InstaForex Company – www.instaforex.com

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