Klimex

USDJPY Approaching Resistance, Prepare For A Reversal

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY is approaching its resistance at 110.92 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 110.34(50% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance where a corresponding reversal is expected.



Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.