empty
 
 
07.03.2018 03:56 AM
USD/JPY dropping nicely, remain bearish for a further drop

The price has dropped strongly from our selling area yesterday. We now adjust our position to sell below resistance at 105.85 (Fibonacci retracement, horizontal pullback resistance) for a further drop to 105.24 (horizontal swing low support) before 104.77 support (Fibonacci extension).

RSI (34) sees descending resistance line hold price down really well.

Sell below 105.85. Stop loss at 106.53. Take profit at 104.77.

This image is no longer relevant

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback