USDJPY approaching resistance, potential drop!
USDJPY is approaching our first resistance at 110.89 (horizontal swing high resistance, 50% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 110.02 (horizontal swing low support, 61.8%, 78.6% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing low support).
Stochastic (89,5,3) 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 (89,5,3) 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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