EUR/JPY testing major resistance, time to sell

Source: Forex Analysis

The price is now testing major resistance at 135.91 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, bearish divergence) and we expect a strong drop from this level towards 134.84 support (Fibonacci retracement) first.

Stochastic (34,5,3) is seeing major resistance below 95% and a bearish divergence vs price also signals that a reversal is impending.

Sell below 135.91. Stop loss is at 136.38. Take profit is at 134.84.


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