USDJPY approaching resistance, potential drop!
USDJPY is approaching our first resistance at 112.68 (horizontal swing high resistance, 100%, Fibonacci extension, 78.6%, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 111.87 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
RSI (55) is also approaching resistance and we might see a corresponding drop in price below this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is also approaching resistance and we might see a corresponding drop in price below 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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