USDJPY approaching resistance, potential drop!
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.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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