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

The price is approaching major resistance at 107.60 (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension) and a strong reaction from here would push the price down to 105.74 support (Fibonacci extension, horizontal swing low support) once again.

RSI (89) sees a long-term descending resistance line provide downside pressure really well.

Sell below 107.60. Stop loss at 108.96. Take profit at 105.74.