USD/JPY Approaching Resistance, Prepare For A Reversal

USD/JPY is approaching its resistance at 113.25 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 112.87 (61.8% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.

USD/JPY is approaching its resistance where we expect to see a reversal.

Sell below 113.25. Stop loss 113.51. Take profit at 112.87.

analytics5bfb73babbd57.png

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