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AUDJPY, H4 | Potential For Dip!

31184 audjpy h4 potential for dip

Type: Bearish ReversalKey Levels:Resistance: 81.273Pivot: 80.932Support: 80.237Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our Pivot at 38.2% Fibonacci retracement towards our 1st support at 80.236 in line with 127.2% Fibonacci extension. Prices are trading below our ichimoku clouds, further supporting our bearish bias.Alternative Scenario:Alternatively, prices may climb higher towards our 1st resistance at 81.273 in line with 61.8% Fibonacci Retracement and 23.6% Fibonacci retracement.

Source: Tickmill

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