USD/JPY right below major resistance, time to sell!

The price is now testing major resistance at 113.10 (Fibonacci retracement, Multiple Fibonacci extension, horizontal overlap resistance) and we expect to see a strong reaction from this level to drive the price down to at least 112.08 support (Fibonacci extension, horizontal swing low support, Fibonacci retracement).

Stochastic (34,3,1) is seeing major resistance at 98% where we expect a corresponding reaction from.

Sell below 113.10. Stop loss is at 113.50. Take profit is at 112.08.


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