USDJPY approaching resistance, potential drop!

9 באוק׳ 2018

USDJPY is approaching our first resistance at 113.47 (horizontal pullback resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 112.15 (horizontal overlap support, 100% Fibonacci extension, 50% Fibonacci retracement).
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
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