USDJPY approaching resistance, potential drop!
USDJPY is approaching our first resistance at 111.46 (horizontal overlap resistance, 76.4%, 50% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 110.09 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our resistance and a reaction below this level 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 approaching our resistance and a reaction below this level 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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