USDJPY testing resistance, potential reversal!
USDJPY is testing its resistance at 110.61 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse off, causing price to fall to its support at 110.00 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching resistance at 97% where a corresponding reaction could occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
Stochastic (55, 5, 3) is approaching resistance at 97% where a corresponding reaction could occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
Transakcja zamknięta: osiągnięto wyznaczony cel:
Dropped perfectly to our support target before bouncing off :)
Komentarz:
Do check our signature to get access to our official telegram group where we'll be doing our best to provide real-time updates to our trading ideas!
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.