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Korora

USD/JPY approaching our profit target, prepare to sell

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Korora  
FX:USDJPY   U.S. Dollar / Japanese Yen
usdjpyshort
1
0
usdjpyshort
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.

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