EUR/JPY testing major resistance, start to sell

Price is testing major channel resistance and we look to sell below this level of resistance (Swing high resistance, channel resistance, Fibonacci extension) for a short term correction to at least 132.01 support (Fibonacci retracement, horizontal pullback support).

Stochastic (34,3,1) is seeing major resistance below 96% where we expect a further drop from.

Sell below 134.15. Stop loss at 134.92. Take profit at 132.01.

analytics59c1c58412f5e.png

The material has been provided by InstaForex Company - www.instaforex.com