USDJPY dropping perfectly!
We can see that USDJPY has reacted perfectly off our resistance at 107.70 which if a fibonacci retracement level and a horizontal pullback resistance. RSI is also correspondingly reacting really nicely off our descending resistance line as forecasted. Our next major level of support remains at 105.70 which is a fibonacci extension level and a major swing low support. There is still good bearish potential for this idea so keep an eye out for further bearish movement.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.