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USDJPY testing major resistance, keep an eye on this setup!

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Tickmill Broker  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns USDJPY USD jpy usdjpyshort usdjpylong usdjpyanalysis usdjpydaily usdjpybuy forexsignals
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trendanalysis harmonicpatterns chartpattern usdjpy usd jpy usdjpyshort usdjpylong usdjpyanalysis usdjpydaily usdjpybuy forexsignals
USDJPY is now testing major resistance at 109.76 (Fibonacci retracement, horizontal swing high resistance) and a strong reaction could occur at this level to push price down to 108.33 support (Fibonacci extension, horizontal swing low support). Our next level of resistance is at 110.36 (above multiple Fibonacci retracements, above pullback resistance).

Stochastic (55,5,3) is seeing major resistance at 97% where a corresponding reaction could occur.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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