USDJPY is approaching resistance, potential drop!
Price is approaching our first resistance at 108.80 (horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 106.66 (horizontal overlap support, 100% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our major resistance and seeing a bearish divergence. A reaction off this level 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 (55,5,3) is also approaching our major resistance and seeing a bearish divergence. A reaction off this level 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.
Penafian
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