We remain bearish on USDJPY below 114.78 (Fibonacci retracement) with price reacting really nicely below our long-term descending resistance line. Our profit target is 113.60 (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) is seeing strong resistance at 96% level.
Sell below 114.78. Stop loss at 115.71. Take profit at 113.60.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
We remain bearish on USDJPY below 114.78 (Fibonacci retracement) with price reacting really nicely below our long-term descending resistance line. Our profit target is 113.60 (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) is seeing strong resistance at 96% level.
Sell below 114.78. Stop loss at 115.71. Take profit at 113.60.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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