TradingView
Klimex
Jan 21, 2019 4:11 AM

USDJPY approaching resistance, potential drop!  Short

U.S. Dollar/Japanese YenFXCM

Description

USDJPY is approaching our first resistance at 109.75 (horizontal pullback resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) where we might see a drop in price to our first support at 108.72 (horizontal overlap support, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

More