USDJPY remain bearish

2016-11-08 16:49    Exness

Sell below 104.38. Stop loss at 105.20. Take profit at 102.83.

Reason for the trading strategy (technically):

We remain bearish below 104.38 resistance (Fibonacci projection, Fibonacci retracement, horizontal pullback resistance) for a push down to 102.83.
RSI (34) sees descending resistance approaching which goes in line with the reversal we're expecting.

 

JPY

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