FX.co ★ USD/JPY prepare to sell on major resistance

The price is approaching major resistance at 114.32 (Fibonacci extension, horizontal swing high resistance) and we expect to see a strong reaction from this level to push the price down to at least 111.77 support (Fibonacci retracement, horizontal overlap support).

Stochastic (55,5,3) is seeing major resistance below 95% and we expect a drop from this level soon.

Sell below 114.32. Stop loss is at 115.09. Take profit is at 111.77.