easyMarkets

USDJPY approaching support, potential bounce!

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY is approaching our first support at 111.22 (horizontal pullback support, 61.8%, 100% Fibonacci extension, 50%, 61.8% Fibonacci retracement) where a strong bounce might occur above this level to our major resistance at 111.57 (38.2% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support.
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