USDJPY approaching resistance, potential drop!
USDJPY is approaching our first resistance at 113.65 (horizontal pullback resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 112.97 (horizontal swing low support, 100% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where we 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 resistance where we 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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