logo

FX.co ★ USD/JPY dropping nicely, remain bearish for a further drop

USD/JPY dropping nicely, remain bearish for a further drop

The price has dropped strongly from our selling area yesterday. We now adjust our position to sell below resistance at 105.85 (Fibonacci retracement, horizontal pullback resistance) for a further drop to 105.24 (horizontal swing low support) before 104.77 support (Fibonacci extension).

RSI (34) sees descending resistance line hold price down really well.

Sell below 105.85. Stop loss at 106.53. Take profit at 104.77.

USD/JPY dropping nicely, remain bearish for a further drop

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account