USDJPY testing major resistance, prepare to sell

FX:USDJPY   U.S. Dollar / Japanese Yen
Sell below 110.42. Stop loss at 111.32. Take profit at 107.62.
Reason for the trading strategy (technically):
Price is now testing major resistance at 110.42 ( Fibonacci retracement , horizontal overlap resistance, fake channel reintegration) and we expect a strong reaction from here to push price down towards 107.62 support ( Fibonacci extension , horizontal swing low support, channel exit potential).
RSI (55) sees a descending resistance line hold price down really well and we expect further bearish momentum. --> join the waiting list for our free live trading room!
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