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

2020-08-04T09:53:32

Relevance until2020-08-05

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

*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 reversal