FX Trading Idea USD/JPY

Price formed a bearish Flag chart pattern and price has just broken below this Flag chart pattern. Price could be on the way lower to 108.05. The Fibonacci 38% of the rally from 106.48 to the high of 108.92 lies at 107.99. This level could provide a strong support for price. MACD is turning bearish and Stochastic is still moving lower.

Sell at 108.50 for 108.05 with a stop at 108.80

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