Korora

USD/JPY approaching our profit target, prepare to sell

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
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1
Price has bounced up from our buying entry perfectly and is on track to our profit target. We prepare to sell below major resistance at 112.08 ( Fibonacci retracement , horizontal pullback resistance, Elliott wave theory) for a drop towards 110.50 support ( Fibonacci extension , horizontal overlap support).

Stochastic (34,5,3) is fast approaching our 93% resistance level where we expect a drop from.