FX.co - USD/JPY reversed off key resistance, potential to drop!

2019-05-07T01:52:45

Relevance until2019-05-08

Price reversed off key resistance at 111.14 where it could potentially drop further.

Entry : 111.14

Why it's good :50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance

Stop Loss : 111.63

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

Take Profit : 110.07

Why it's good horizontal swing low support,78.6% fibonacci retracement.100% Fibonacci extension

USD/JPY reversed off key resistance, potential to 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 reversed off key resistance, potential to drop!