FX.co ★ USD/JPY facing bearish pressure, potential for further drop

Trading Recommendation

Entry: 107.738

Reason for Entry: Horizontal swing high resistance, 61.8%, 78.6% fibonacci extension and 50% fibonacci retracement

Take Profit: 107.330

Reason for Take Profit: Horizontal overlap support, 61.8% fibonacci retracement

Stop Loss: 107.877

Reason for Take Profit: 61.8% fibonacci retracement, 100% fibonacci extension