The price is back to testing our selling area. We remain bearish looking to sell below strong resistance at 86.57 (Fibonacci retracement, Fibonacci extension) for a corrective drop towards 85.42 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 91% and has reversed nicely from there.
Correlation analysis: We're seeing JPY strength with drops on AUD/JPY, EUR/JPY, and USD/JPY.
Sell below 86.57. Stop loss is at 85.42. Take profit is at 87.17.
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