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Short

USDJPY making a pullback to strong resistance

Di ICmarkets
Broker
USDJPY is making a strong pullback to resistance at 107.70 which is our 23.6% Fibonacci retracement and horizontal pullback resistance level. Breaking this level might signal a stronger recovery.

What is interesting is how RSI continuously reacts well to our descending resistance line and it's approaching the descending resistance line again, corresponding with what could occur at our 107.70 resistance too.
Chart PatternsdaytradeForexforextradingHarmonic PatternsjpyTrend AnalysisUSDUSDJPYusdjpyideausdjpylongusdjpyshort
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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