FX.co ★ USD/JPY approaching major resistance, prepare to sell

The price is approaching major resistance at 111.37 (Fibonacci retracement, horizontal resistance, Fibonacci extension) and we expect a reaction below this level for a drop to at least the 109.41 support (Fibonacci retracement, horizontal overlap support, price gap).

Stochastic (34,5,3) is seeing major resistance at 91% where we expect a drop from.

Sell below 111.37. Stop loss at 112.27. Take profit at 109.41.