USD/JPY remain bearish looking to sell on strength

We remain bearish below 114.37 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a drop to at least 112.54 support (Fibonacci projection, horizontal support).

Stochastic (55,5,3) is seeing strong resistance below the 96% level which it is approaching.

Sell below 114.37. Stop loss at 115.36. Take profit at 112.54.

The material has been provided by InstaForex Company - www.instaforex.com