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USDJPY facing bearish pressure, potential for further drop

analytics5f2cd2b1dad50.jpg

Trading Recommendation

Entry: 106.541

Reason for Entry: 61.8% fibonacci retracement and horizontal overlap resistance

Take Profit: 104.274

Reason for Take Profit: Horizontal swing low support

Stop Loss: 107.330

Reason for Stop Loss: Horizontal swing high resistance

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