USD/JPY Reversed Off Resistance, Prepare For Further Drop

USD/JPY reversed off its resistance at 111.46 (100% Fibonacci extension, 76.4% & 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to drop further to its support at 110.09 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop is expected.

USD/JPY reversed off its resistance where we expect to see a further drop.

Sell below 111.46. Stop loss at 112.44. Take profit at 110.09.

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