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

The price is now testing major resistance at 112.69 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong drop from this level towards 112.00 support (Fibonacci extension, horizontal swing low support).

Stochastic (21,3,1) is seeing strong resistance below 97% where we expect a corresponding drop from.

Sell below 112.69. Stop loss is at 113.19. Take profit is at 112.00