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USDJPY Approaching Resistance, Prepare For A Reversal

Oleh Tickmill
Broker

USDJPY is approaching its resistance at 109.02 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 107.74(horizontal swing low support,61.8% Fibonacci retracement,100% Fibonacci extension).
Stochastic (89, 5, 3) is approaching its resistance where a corresponding reversal is expected
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Chart PatternsforexsignalsHarmonic PatternsjpyTrend AnalysisUSDUSDJPY
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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