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MEX_Exchange
20. Dez. 2017 03:38

USDJPY right below major resistance, time to sell! Short

U.S. Dollar/Japanese YenFXCM

Beschreibung

Sell below 113.10. Stop loss at 113.50. Take profit at 112.08.
Reason for the trading strategy (technically):
Price is now testing major resistance at 113.10 (Fibonacci retracement, Multiple Fibonacci extension, horizontal overlap resistance) and we expect to see a strong reaction from this level to drive price down to at least 112.08 support (Fibonacci extension, horizontal swing low support, Fibonacci retracement).
Stochastic (34,3,1) is seeing major resistance at 98% where we expect a corresponding reaction from.
Kommentare
davesaf
Hi Mex,
what would be happened if it breaks 113.10 ?
gaff_xec
Hello, Can we get out of it manually or it will get down? Do you see this cross 114?
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