USD/JPY approaching resistance, further drop

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USDJPY is approaching 1st resistance at 106.77, potential drop could occur!

Entry :106.77

Why it’s good : horizontal pullback resistance

61.8% Fibonacci extension

38.2% Fibonacci retracement

Take Profit : 106.12

Why it’s good :38.2% Fibonacci retracement

Horizontal swing low support

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The material has been provided by InstaForex Company – www.instaforex.com

Source:: USD/JPY approaching resistance, further drop!

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