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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 reverse off resistance, further drop!

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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 : 107.98

Why it's good : 23.6% Fibonacci retracement

Horizontal overlap support

61.8% Fibonacci extension

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