USDJPY approaching resistance, potential drop! USDJPY is approaching our first resistance at 113.35 (Horizontal overlap resistance, 61.8% fibonacci extension, 23.6%, 50% fiboancci retracement) and a strong drop might occur below this level pushing price down to our major support at 112.66 (100% fibonacci extension, 61.8% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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