FX.co - USDJPY facing bearish pressure from resistance, potential for further drop

2020-07-20T06:17:27

Relevance until2020-07-21

Trading Recommendation

Entry: 107.404

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

Take Profit: 106.684

Reason for Take Profit: 76.4% fibonacci retracement, horizontal overlap support

Stop Loss: 107.736

Reason for Take Profit: Horizontal swing high resistance, 100% fibonacci extension

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ USDJPY facing bearish pressure from resistance, potential for further drop