USDJPY approaching resistance, potential drop!
Price is approaching our first resistance at 110.69 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 109.98 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also seeing a bearish divergence and approaching our resistance line and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
Stochastic (55,5,3) is also seeing a bearish divergence and approaching our resistance line and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
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