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USDJPY dropped perfectly as forecasted, prepare for a bounce

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Tickmill Broker  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns USDJPY USD jpy usdjpylong usdjpyshort usdjpyanalysis usdjpydaily usdjpybuy usdjpylongsetup
118
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trendanalysis harmonicpatterns chartpattern usdjpy usd jpy usdjpylong usdjpyshort usdjpyanalysis usdjpydaily usdjpybuy usdjpylongsetup
USDJPY dropped perfectly as forecasted and is seeing major support above 110.50 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur at this level to push price up to at last 111.41 resistance (38.2% Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).

Stochastic (55,5,3) is seeing major support above 2.5% where we expect further bullishness.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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