USDJPY approaching resistance at 112.17 (100% Fibonacci extension x2, 76.4% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse to its support at 111.28 (50% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
USDJPY is approaching our first resistance at 112.42 (100% Fibonacci extension, 78.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 111.17 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance and a reaction below ...
UJ Has been bullish the past week and failed to break and hold above resistance at 112.2. For that reason I am expecting another dip down before it continues upwards. I have another sell limit at 112.3-4ish. Not playing sell for too long unless impulsive move out of zone. If It continues up I expect it to reach 113 before finding resitance
USDJPY potentially bamm trigger BAT or Butterfly Pattern Trading Plan : Buy now or buy limit @ 111,645 attention: this is only a prediction. risk use returns to each individual. if my analysis is wrong, I am not responsible for your losses. and If there are questions please chat with me or comment .