USD/JPY right on resistance once again, remain bearish


Price has shot down and bounced up to our selling area once again. We look to sell on major resistance at 112.70 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 110.98 support (Fibonacci extension, Fibonacci retracement, horizontal overlap support).

Stochastic (34,3,1) is seeing major resistance at 97% where we expect a strong drop from.

Sell below 112.70. Stop loss at 113.41. Take profit at 110.98.

The material has been provided by InstaForex Company –

Source:: USD/JPY right on resistance once again, remain bearish

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