FX.co ★ USD/JPY remain bearish for a further drop

The price continues to hold well below our descending resistance line. We remain bearish below the 110.66 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a further push down to at least the 108.23 support (Fibonacci extension, horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance below our 96% level and has good downside potential.

Sell below 110.66. Stop loss at 111.25. Take profit at 108.23.