FX.co ★ USDJPY facing bearish pressure

Price may retrace from 1st resistance at 110.815 at 141.4% Fibonacci extension to 1st support at 109.326 in line with 78.6% Fibonacci extension. Otherwise price may rise to 2nd resistance at 111.675 in line with horizontal swing high.

Trading Recommendation

Entry: 110.815

Reason for Entry:

141.4% Fibonacci extension

Take Profit: 109.326

Reason for Take Profit:

61.8% Fibonacci extension

Stop Loss: 89.130

Reason for Stop Loss:

141.4% Fibonacci extension