Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

USD/JPY Approaching Resistance, Prepare For A Reversal!

August 2, 2018 Analytics

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USD/JPY is approaching its resistance at 112.19 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback resistance) where a reversal is expected, causing the price to fall to its support at 111.25 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback support).

Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.

USD/JPY is approaching resistance where we expect to see a reversal.

Sell below 112.19. Stop loss 112.66. Take profit at 111.25.

analytics5b61830864203.png

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The material has been provided by InstaForex Company – www.instaforex.com

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