USDJPY is approaching horizontal pullback resistance in line with 38.2% Fibonacci retracement , 61.8% Fibonacci retracement and 61.8% Fibonacci extension . Prices might push down towards horizontal swing low support in line with 61.8% Fibonacci extension . If prices push up, prices might face resistance from horizontal swing high resistance in line with 100% Fibonacci extension and 61.8% Fibonacci retracement . MACD is also showing bearish crossover showing a bearish pressure for prices.
Trading Recommendation
Entry: 110.396
Reason for Entry:
Horizontal pullback resistance, 61.8% Fibonacci retracement, 38.2% Fibonacci retracement, 61.8% Fibonacci extension
Take Profit: 109.533
Reason for Take Profit:
Horizontal swing low support, 61.8% Fibonacci extension
Stop Loss: 110.815
Reason for Stop Loss:
Horizontal swing high resistance 61.8% Fibonacci retracement, 100% Fibonacci extension
