USD/JPY reverses perfectly as expected, remain bearish

We remain bearish looking to sell on strength below 114.37 resistance (Fibonacci extension, horizontal swing high resistance, bearish divergence) for a push down to at least 113.54 support (Fibonacci retracement, horizontal overlap support).

RSI (34) sees strong bearish divergence vs price signalling that a reversal is impending.

Sell below 114.37. Set stop loss at 114.76 and take profit at 113.54.


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