USDJPY approaching resistance, potential drop!
USDJPY is approaching our first resistance at 111.96 (horizontal pullback resistance, 61.8%, 100% Fibonacci extension, 78.6% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 109.31 (horizontal swing low support, 38.2%, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our resistance line and 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 (89,5,3) is also approaching our resistance line and 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
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.