Sell below 111.56. Stop loss at 112.27. Take profit at 110.29. Reason for the trading strategy (technically): We prepare to sell below 111.56 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 110.29 support (Fibonacci extension, horizontal pullback support, Elliott wave theory). Stochastic (21,5,3) is reacting nicely off our 93% resistance with good downside potential. Correlation analysis: We are seeing JPY strength with AUDJPY, EURJPY and USDJPY expecting drops.