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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 is approaching 1st resistance at 106.78, potential drop could occur.

Entry :106.78

Why it's good : horizontal swing high resistance

100% &61.8% Fibonacci extension

Take Profit : 105.70

Why it's good :horizontal swing low support

100% Fibonacci extension

38.2% Fibonacci retracement

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