USDJPY approaching resistance, potential drop!
USDJPY is approaching our first resistance at 112.00 (horizontal pullback resistance, 76.4% Fibonacci retracement, 61.8%, 100% Fibonacci extension, long term descending resistance line) where a strong reaction might occur below this level pushing price down to our major support at 109.21 (horizontal swing low support, 38.2%, 76.4% Fibonacci retracement).
Stochastic (55,5,3) is approaching resistance 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 approaching resistance 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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