USD/JPY dropping nicely, remain bearish for a further drop

The price has dropped strongly from our selling area yesterday. We now adjust our position to sell below resistance at 105.85 (Fibonacci retracement, horizontal pullback resistance) for a further drop to 105.24 (horizontal swing low support) before 104.77 support (Fibonacci extension).

RSI (34) sees descending resistance line hold price down really well.

Sell below 105.85. Stop loss at 106.53. Take profit at 104.77.

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