USD/JPY reversing perfectly, remain bearish for a further drop

The price has dropped absolutely perfectly from our selling area as expected and is fast approaching our profit target. We remain bearish below 114.00 resistance (Fibonacci retracement, horizontal overlap resistance, big figure, bearish divergence, ascending support break) as we expect a strong push down to at least 131.16 support (Fibonacci retracement, horizontal overlap support).

Stochastic (55,3,1) is seeing strong support broken opening a drop to the downside which has massive bearish potential.

Sell below 114.00. Stop loss is at 114.54. Take profit is at 113.16.


The material has been provided by InstaForex Company -