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MEX_Exchange

EURJPY testing major resistance, time to sell

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 forextrading
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trendanalysis harmonicpatterns chartpattern eurjpy eur jpy eurjpyshort eurjpylong eurjpysignal eurjpytrade forex forextrading
Sell below 135.91. Stop loss at 136.38. Take profit at 134.84.
Reason for the trading strategy (technically):
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.
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