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theforexarmy

USDJPY testing major resistance, remain bearish

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
theforexarmy  
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY usdjpyshort usdjpyidea usdjpydaily usdjpynews usdjpylong USD jpy usdjpyanalysis usdjpy1hr usdjpylongsetup usdjpysell usdjpybuy
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usdjpy usdjpyshort usdjpyidea usdjpydaily usdjpynews usdjpylong usd jpy usdjpyanalysis usdjpy1hr usdjpylongsetup usdjpysell usdjpybuy
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.

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