alexkyp

USDJPY potential SELL

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
The pair has been overbought for the past month and is currently trading around 110.70 where is significant resistance and the 0.618 fib level.
If the DXY follows its current downward trend we can expect the pair to fall to lower lows such us 110. 40 and then 110.0 where the 200 EMA is currently.