USD/JPY has broken the key to our support level, time to start selling

The price has broken our support level triggering a bearish move from here. We are looking to sell on strength below 112.65 resistance (Fibonacci retracement, the lower the resistance) for a drop to 110.90 support (Fibonacci retracement, horizontal overlap support).

RSI (55) sees a bearish divergence signaling that a strong recovery is imminent. We also see who has dropped below 50%, it is the beginning of a change in momentum.

Sell below 112.65. Stop loss is at 113.51. Take profit is at 110.90.

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