USD/JPY is forming a nice reversal pattern, remain bearish

The price has started to form a nice reversal pattern at our selling area. We remain bearish looking to sell at the major resistance of 113.06 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance, bearish divergence) and expect a drop towards at least 110.97 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance below 95% where we expect a drop from.

Sell below 113.06. Stop loss is at 113.96. Take profit is at 110.97.


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