USDJPY profit target reached perfectly, prepare to sell
Sell below 113.20. Stop loss at 113.61. Take profit at 112.04.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target. We look to sell below 113.20 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 112.04 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target. We look to sell below 113.20 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 112.04 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from.