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