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USD/JPY dropped as expected, continue to sell

Price has dropped perfectly off our selling area as expected yesterday. We continue to sell on resistance at 103.90 (Fibonacci retracement, Fibonacci projection) for a further drop to 102.86.

RSI (21) has made a bearish exit triggering a bearish move from here.

Stochastics (34,5,3) is approaching pullback resistance.

Sell below 103.90. Stop loss at 104.55. Take profit at 102.86.

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