MEX_Exchange
Short

EURJPY testing major resistance, prepare to sell

FX:EURJPY   Euro / Japanese Yen

Sell below 135.14. Stop loss at 135.67. Take profit at 134.28.
Reason for the trading strategy (technically):
Price is testing major resistance at 135.14 ( Fibonacci retracement , horizontal overlap resistance) and a strong reaction could occur at this level to push price down to at least 134.28 support ( Fibonacci retracement , horizontal overlap support). Our stop loss is at 135.67 to give our trade more breathing space.
Stochastic (34,5,3) is seeing major resistance below 95% where a corresponding reaction could occur.

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