The price has continued to drop nicely towards our profit target. We remain bearish looking to sell below 88.34 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a further push down to at least 87.65 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing intermediate resistance below 45% where we expect a further drop from.
Correlation analysis: We are seeing JPY strength with AUD/JPY and EUR/JPY expecting drops.
Sell below 88.34. Stop loss is at 88.70. Take profit is at 87.65.
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