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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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USD/JPY reversed off key resistance, potential to drop!

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Price reversed off key resistance at 111.14 where it could potentially drop further.

Entry : 111.14

Why it's good :50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance

Stop Loss : 111.63

Why it's good : horizontal swing high resistance,61.8% fibonacci retracement, 100% Fibonacci extension

Take Profit : 110.07

Why it's good horizontal swing low support,78.6% fibonacci retracement.100% Fibonacci extension

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