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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 usjdpy USD jpy usdjpylong usdjpyshort Forex forextrading forexsignal
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trendanalysis harmonicpatterns chartpattern usjdpy usd jpy usdjpylong usdjpyshort forex forextrading forexsignal
USDJPY is approaching our first resistance at 113.33 (horizontal swing high resistance, 100% Fibonacci extension, 6.18% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 112.63 (23.6% Fibonacci retracement).
Stochastic (34,5, 3) is also approaching resistance where we might see a corresponding drop in price should it react off this level.
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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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