USDJPY testing resistance, potential drop!
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.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also approaching our resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Come join us today at : easymarkets.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.