MEX_Exchange

USDJPY approaching major resistance, prepare to sell

Viés de baixa
FX:USDJPY   Dólar Americano/Iene Japonês
Sell below 114.49. Stop loss at 115.19. Take profit at 113.16.
Reason for the trading strategy (technically):
Price is now approaching major resistance at 114.49 (Fibonacci retracement, Fibonacci extension, major swing high resistance) and we expect to see a strong reaction off this level to push price down to 113.16 support (Fibonacci retracement, horizontal overlap support).
Stochastic (21,3,1) is approaching major resistance at 97% where we expect a corresponding reaction from.
Aviso legal

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