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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 approaching resistance, potential drop!

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USDJPY approaching 1st resistance at 108.11 where a reversal could occur.

Entry :108.11

Why it's good : 50% & 76.4% Fibonacci retracement

61.8% Fibonacci extension

Horizontal overlap resistance

Take Profit : 107.80

Why it's good : 38.2% Fibonacci retracement, horizontal overlap support

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