FX.co ★ USD/JPY at major resistance, remain bearish

Price is testing our descending resistance line and we remain bearish below resistance at 118.16 (Fibonacci retracement, Fibonacci projection) for a drop to at least 116.14 support (Fibonacci projection, Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) remains bearish below 94% resistance.

Sell below 118.26. Set stop loss at 118.71 and take profit at 116.14.