USDJPY approaching resistance, potential drop!
USDJPY is approaching our first resistance at 112.82 (38.2% fibonacci retracement, 100% fibonacci extension, horizontal pullback resistance) and a strong drop might occur pushing price down to our major support at 112.08 (Horizontal swing low support, 61.8% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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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