USDJPY approaching resistance, potential drop!

2018년 7월 6일

USDJPY is approaching our first resistance at 112.00 (horizontal pullback resistance, 76.4% Fibonacci retracement, 61.8%, 100% Fibonacci extension, long term descending resistance line) where a strong reaction might occur below this level pushing price down to our major support at 109.21 (horizontal swing low support, 38.2%, 76.4% Fibonacci retracement).
Stochastic (55,5,3) is approaching resistance 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.