USDJPY prepare to sell

2016-11-09 18:06    Exness

Sell below 105.48. Stop loss at 106.07. Take profit at 103.37.

Reason for the trading strategy (technically):

We remain bearish below 105.48 (channel resistance, Fibonacci projection, horizontal resistance) for a drop to fill the gap last seen at 103.37.
RSI (34) sees descending resistance approaching which goes in line with the reversal we're expecting.

JPY

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