AUDJPY is approaching its support at 81.9 (61.8% Fibonacci extension x2, 61.8% Fibonacci retracement, horizontal swing low support) where a corresponding bounce could occur, causing price to rise to its resistance 82.80 (horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 4.4% where a corresponding bounce could occur
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.