USD/JPY Approaching Resistance, Prepare For A Reversal
USD/JPY is approaching its resistance at 113.08 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it is expected to reverse down to its support at 112.62(61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected. USD/JPY is approaching its resistance where we expect to see a reversal.
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Jeff Wecker