USDJPY approaching strong resistance, watch for the reaction!
USDJPY is approaching strong resistance at 110.61 (Fibonacci extension, horizontal pullback resistance, Fibonacci retracement, Elliott wave structure) and a strong reaction could occur at that level push price all the way down to major support at 109.38 (Fibonacci retracement). Stochastic (55,5,3) is seeing major resistance below 97% where a corresponding reaction could occur.
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