USDJPY approaching major resistance, potential upcoming reversal
USDJPY is fast approaching major resistance at 112.18 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) and a strong reaction could occur at this level to push prices all the way down to major support at 110.94 (Fibonacci retracment, horizontal swing low support).
Stochastic (89,5,3) is seeing major resistance at 97% where a corresponding reaction could occur. We can also see bearish divergence vs price signaling that a reversal is impending.
Stochastic (89,5,3) is seeing major resistance at 97% where a corresponding reaction could occur. We can also see bearish divergence vs price signaling that a reversal is impending.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.