USD/JPY Approaching Swing High Resistance, Prepare For A Drop (3 star)

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Price is approaching a key resistance at 111.608 where it could potentially reverse to its support.

Entry : 111.608

Why it’s good : horizontal swing high resistance,38.2% fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 111.910

Why it’s good :61.8% fibonacci retracement,100% Fibonacci extension, horizontal swing high resistance

Take Profit : 111.045

Why it’s good : horizontal swing low support,50% fibonacci retracement.61.8% Fibonacci extension

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

Source:: USD/JPY Approaching Swing High Resistance, Prepare For A Drop ( 3 star )

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