USD/JPY approaching major resistance, prepare to sell

Price is approaching major resistance at 110.18 (Fibonacci retracement, filling price gap) and we expect a strong reaction off this level to push price down to 107.95 (Fibonacci retracement, filling price gap).

Stochastic (34,3,1) is seeing major resistance below 97% and we expect a strong reaction off this level too.

Sell below 110.18. Stop loss at 111.10. Take profit at 107.95.

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The material has been provided by InstaForex Company - www.instaforex.com