MEX_Exchange
Short

USDJPY Approaching Resistance, Prepare For a Reversal

FX:USDJPY   U.S. Dollar / Japanese Yen
Sell below 109.19. Stop loss at 109.81. Take profit at 107.94.
Reason for the trading strategy (technically):
USDJPY is approaching its resistance at 109.19 (76.4% Fibonacci retracement , 50% Fibonacci retracement , long term 61.8% Fibonacci extension ) where we expect to see a reversal, pushing price down to its support at 107.94 (100% Fibonacci extension , 38.2% Fibonacci retracement , 61.8% Fibonacci retracement ).
Stochastic (55, 5, 3) is approaching its resistance at 99% where we expect to see a corresponding reversal.
My trade is in minas
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spot on! well done on this on sir
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