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FX.co ★ USD/JPY remain bearish looking to sell on strength

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Forex Analysis:::2017-01-26T13:36:18

USD/JPY remain bearish looking to sell on strength

We remain bearish below 114.37 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a drop to at least 112.54 support (Fibonacci projection, horizontal support).

Stochastic (55,5,3) is seeing strong resistance below the 96% level which it is approaching.

Sell below 114.37. Stop loss at 115.36. Take profit at 112.54.

USD/JPY remain bearish looking to sell on strength

Analyst InstaForex
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