FX.co - USD/JPY approaching resistance, potential reversal!

2019-06-19T02:18:18

Relevance until2019-06-20

Price is approaching its resistance where it could potentially reverse back down to its support at 0.6861.

Entry : 109.012

Why it's good : 23.6% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance

Stop Loss : 109.944

Why it's good : 76.4% Fibonacci retracement

Take Profit : 108.147

Why it's good : 76.4% Fibonacci retracement, horizontal swing low support, 100% Fibonacci extension

USD/JPY approaching resistance, potential reversal!

*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 resistance, potential reversal!