USDJPY approaching resistance, potential drop!

2018년 7월 10일

USDJPY is approaching our first resistance at 112.04 (horizontal pullback resistance, 50%, 76.4% Fibonacci retracement, 61.8%, 100% Fibonacci extension, long term descending resistance line) and a strong reaction might occur below this level pushing price down to our major support at 108.71 (horizontal swing low support, 100% Fibonacci extension, 50%, 78.6% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our resistance and a reaction below this level might see a corresponding drop in price.
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