USDJPY profit target reached, prepare to sell once again
Sell below 114.37. Stop loss at 114.76. Take profit at 113.54.
Reason for the trading strategy (technically):
Price reacted strong from our selling area and reached our profit target. We prepare once again to sell on strength below 114.37 resistance (Fibonacci extension, horizontal swing high resistance) for a push down to at least 113.54 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing strong resistance below 99% where we expect a corresponding reaction from.
Reason for the trading strategy (technically):
Price reacted strong from our selling area and reached our profit target. We prepare once again to sell on strength below 114.37 resistance (Fibonacci extension, horizontal swing high resistance) for a push down to at least 113.54 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing strong resistance below 99% where we expect a corresponding reaction from.