FX.co - USD/JPY Approaching Swing High Resistance, Prepare For A Drop

2019-05-03T02:20:43

Relevance until2019-05-04

Price is approaching a key resistance at 111.608 where it could potentially reverse to its support.

Entry : 111.608

Why it's good : horizontal swing high resistance,38.2% fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 111.910

Why it's good :61.8% fibonacci retracement,100% Fibonacci extension, horizontal swing high resistance

Take Profit : 111.045

Why it's good : horizontal swing low support,50% fibonacci retracement.61.8% Fibonacci extension

USD/JPY Approaching Swing High Resistance, Prepare For A Drop

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ USD/JPY Approaching Swing High Resistance, Prepare For A Drop