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USDJPY testing resistance, potential drop!

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
easyMarkets Broker  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns USDJPY USD jpy usdjpylong usdjpyshort Forex forextrading forexsignals
131
2
trendanalysis harmonicpatterns chartpattern usdjpy usd jpy usdjpylong usdjpyshort forex forextrading forexsignals
USDJPY is testing our first resistance at 110.83 (horizontal overlap resistance, 78.6% fibonacci retracement, 61.8%, 100% fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 109.94 (horizontal swing low support, 38.2 fibonacci retracement, 61.8%, 100% fibonacci extension).
RSI (89) is also approaching our resistance where we might see a corresponding drop in price.
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