AUDJPY broke out of ascending trendline support to the downside! Further drop expected!

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Trading Recommendation

Entry: 65.708

Reason for Entry: Long term moving average resistance

Take Profit : 62.930

Reason for Take Profit: 61.8% Fibonacci retracement, graphical swing low

Stop Loss: 66.634

Reason for Stop loss: 61.8% Fibonacci retracement, ascending trendline resistance

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