easyMarkets

USDJPY approaching support, potential bounce!

Long
FX:USDJPY   Dollaro / Yen giapponese
USDJPY is approaching our first support at 111.94 (horizontal swing low support, 76.4% Fibonacci retracement, 100% Fibonacci extension) where we might see a strong bounce in price to our major resistance at 112.66 (horizontal swing high resistance, 78.6% Fibonacci retracement).
Stochastics (21,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
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