EUR/JPY profit target was reached perfectly, time to sell

Source: Forex Analysis

The price shot up and reached our profit target perfectly from yesterday. We prepare to sell below major resistance at 120.23 (Fibonacci retracement, Fibonacci extension, and horizontal overlap resistance) for a drop to at least 119.44 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance below the 95% level where we expect a reaction from.

Sell below 120.23. Stop loss is at 120.70. Take profit is at 119.44.

analytics58b813fb58ba8.png

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