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FX.co ★ USDJPY facing bearish pressure from resistance, potential reversal

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Forex Analysis:::2020-08-04T09:53:32

USDJPY facing bearish pressure from resistance, potential reversal

USDJPY facing bearish pressure from resistance, potential reversal

Trading Recommendation

Entry: 106.554

Reason for Entry: Horizontal pullback resistance, 61.8% fibonacci retracement, 61.8% fibonacci extension

Take Profit: 105.120

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

Stop Loss: 107.330

Reason for Stop Loss: Horizontal swing high resistance, 76.4% fibonacci retracement

Analyst InstaForex
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