USDJPY is approaching our first support at 109.08(horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement ) where a strong bounce might occur pushing the price up to our major resistance at 110.69 (horizontal swing high resistance, ,50%Fibonacci retracement, 61.8% Fibonacci extension). Stochastic is also approaching support.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results