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MEX_Exchange

EURJPY rising strongly, prepare to sell on strength

Short
Euro / Japanese Yen (FX:EURJPY)  
MEX_Exchange  
FX:EURJPY   Euro / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns EURJPY EUR jpy eurjpyshort eurjpylong eurjpysignal eurjpytrade Forex forexsignals
113
1
trendanalysis harmonicpatterns chartpattern eurjpy eur jpy eurjpyshort eurjpylong eurjpysignal eurjpytrade forex forexsignals
Sell below 134.41. Stop loss at 134.79. Take profit at 133.50.
Reason for the trading strategy (technically)
Price is rising strongly and we prepare to sell on major resistance at 134.41 (Fibonacci extension, horizontal swing high resistance, bearish divergence) for a corrective drop to at least 133.50 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 100% and also bearish divergence vs price signalling that a reversal is impending.
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