USDJPY testing major resistance, keep an eye on this setup!

USDJPY is now testing major resistance at 109.76 (Fibonacci retracement, horizontal swing high resistance) and a strong reaction could occur at this level to push price down to 108.33 support (Fibonacci extension, horizontal swing low support). Our next level of resistance is at 110.36 (above multiple Fibonacci retracements, above pullback resistance).

Stochastic (55,5,3) is seeing major resistance at 97% where a corresponding reaction could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.