USDJPY has broken major support, watch for a bounce first!
USDJPY has broken major ascending support and Ichimoku cloud support triggering a strong sell off. We’ll need to wait for a bounce in order for price to be at a more attractive level. Our 1st major resistance is at 110.05 (Fibonacci retracement, horizontal overlap resistance) and a strong reaction could occur once again at this level to push prices down to major support at 108.87 (Fibonacci retracement, horizontal swing low support).
RSI (55) has made a bearish exit with good downside potential.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) has made a bearish exit with good downside potential.
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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