USD/JPY dropping toward the profit target, remain bearish

Price is dropping nicely toward our profit target. We remain bearish below resistance at 118.16 (Fibonacci retracement, Fibonacci projection) for a drop to at least 116.14 support (Fibonacci projection, Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) remains bearish below 94% resistance.

Sell below 118.26. Stop loss at 118.71. Take profit at 116.14.

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