FX.co ★ USD/JPY profit target reached perfectly, prepare to sell

The price has shot up nicely as expected and reached our profit target. We prepare to sell below major resistance at 113.41 (Fibonacci retracement, Fibonacci extension) for an intermediate correction down to at least 111.62 support (Fibonacci retracement, horizontal overlap support).

RSI (55) sees resistance at 62% and we expect an intermediate correction from here.

Sell below 113.41. Stop loss is at 114.64. Take profit is at 111.62.