EURJPY Approaching Resistance, Prepare For A Reversal
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Sell below 129.67. Stop loss 129.95. Take profit at 129.04. Reason for the trading strategy (technically): EURJPY is approaching its resistance at 129.67 (61.8% & 100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 129.04 (50% Fibonacci retracement). Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.