USDJPY dropped perfectly as forecasted, prepare for a bounce
USDJPY dropped perfectly as forecasted and is seeing major support above 110.50 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur at this level to push price up to at last 111.41 resistance (38.2% Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).
Stochastic (55,5,3) is seeing major support above 2.5% where we expect further bullishness.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is seeing major support above 2.5% where we expect further bullishness.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results