USD/JPY approaching resistance, potential drop!

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USDJPY is approaching 1st resistance at 106.71, potential drop could occur!

Entry :106.71

Why it’s good : horizontal pullback resistance

61.8% Fibonacci extension

38.2% Fibonacci retracement

Take Profit : 105.73

Why it’s good : 61.8% Fibonacci retracement

61.8% Fibonacci extension

Horizontal swing low support

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