USDJPY approaching resisatnce, potential drop!
USDJPY is approaching our first resistance at 109.751 (61.8% Fibonacci extension, 50% Fibonacci retracement, Horizontal pullback resistance, Higher time frame resistance) where a strong drop might occur below this level pushing price down to our major support at 108.745 (50% Fibonacci retracement, Horizontal overlap support).
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price.
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price.
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