USDJPY testing major resistance, remain bearish
Sell below 113.95. Stop loss at 114.95. Take profit at 112.56.
Reason for the trading strategy (technically):
We remain bearish below 113.95 resistance (Fibonacci retracement, horizontal resistance) for a drop down to 112.56 support (Fibonacci retracement, horizontal overlap support).
Stochastic (21,5,3) is seeing strong resistance below the 94% level.
Reason for the trading strategy (technically):
We remain bearish below 113.95 resistance (Fibonacci retracement, horizontal resistance) for a drop down to 112.56 support (Fibonacci retracement, horizontal overlap support).
Stochastic (21,5,3) is seeing strong resistance below the 94% level.
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