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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, Prepare For A Drop

Price is approaching a key resistance at 111.608 where it could potentially reverse to its support.

Entry : 111.608

Why it's good : horizontal swing high resistance,38.2% fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 111.910

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

Take Profit : 111.045

Why it's good : horizontal swing low support,50% fibonacci retracement.61.8% Fibonacci extension

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