USD/JPY reverse off resistance, further drop!

analytics5d37f8188609d.jpg

USDJPY reversing off 1st resistance at 108.38 where a reversal could occur.

Entry :108.38

Why it's good : 61.8% Fibonacci retracement

78.6% Fibonacci retracement

61.8% Fibonacci extension

Horizontal swing high resistance

Take Profit : 108.08

Why it's good : 23.6% Fibonacci retracement

Horizontal overlap support

61.8% Fibonacci extension

analytics5d37f7f14770f.png

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