USDJPY approaching resistance, potential drop! USDJPY is approaching our first resistance at 111.63 (horizontal swing high resistance, 76.4% Fibonacci retracement, 100%, 161.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 110.91 (38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
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