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USDJPY approaching resistance, potential drop!

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Tickmill Broker  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns USDJPY USD jpy usdjpylong usdjpyshort Forex forextrading forexsignal
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trendanalysis harmonicpatterns chartpattern usdjpy usd jpy usdjpylong usdjpyshort forex forextrading forexsignal
USDJPY is approaching our first resistance at 113.7 (horizontal swing high resistance, 100% fibonacci extension, 78.6% fibonacci retracement) where a strong drop might occur pushing price down to our major support at 112.5 (61.8% fibonacci extension, 78.6% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresonding drop in price.
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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
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