USDJPY approaching resistance, potential drop!

2018年6月27日

USDJPY is approaching our first resistance at 110.22 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) and a strong drop could occur below this level pushing price down to our major support at 108.88 (61.8%, 100% Fibonacci extension, 76.4% Fibonacci retracement). A breakout below our intermediate support at 109.37 (horizontal swing low support, 61.8% Fibonacci extension) might provide the bearish acceleration to our major support level.
Stochastic (89,5,3) is also approaching our major resistance and a reaction below this level might see a corresponding drop in price.
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