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MEX_Exchange

EURJPY approaching major resistance, prepare to sell

Singkat
Euro / Yen Jepun (FX:EURJPY)  
MEX_Exchange  
FX:EURJPY   Euro / Yen Jepun
EURJPY eurjpyshort eurjpyidea eurjpydaily eurjpynews eurjpylong EUR jpy eurjpyanalysis eurjpy1hr eurjpylongsetup eurjpysell eurjpysignal
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eurjpy eurjpyshort eurjpyidea eurjpydaily eurjpynews eurjpylong eur jpy eurjpyanalysis eurjpy1hr eurjpylongsetup eurjpysell eurjpysignal
Sell below 125.80. Stop loss at 126.13. Take profit at 124.60.
Reason for the trading strategy (technically):
Price is approaching major resistance at 125.80 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction off this level for a drop to at least 124.60 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance below the 96% level where we expect a drop from.
Correlation analysis: We’re expecting overall JPY strength today with drops expected on USDJPY and EURJPY.
Penafian

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