FX.co ★ USD/JPY turns bearish with a break of major support

The price has broken our long term ascending support-turned-resistance line triggering a bearish move below 117.18 resistance (Fibonacci retracement, horizontal pullback resistance, ascending resistance pullback) from here to at least the first support at 116.48 (Fibonacci retracement, Fibonacci projection, horizontal swing low support).

RSI (34) has made a bearish exit signalling a change in momentum.

Sell below 117.18 Set stop loss at 117.48 and take profit at 116.48.