EUR/JPY major support broken, time to start selling

The price has broken major support and is on route to our profit target. We now look to sell on strength below major resistance at 132.30 (Fibonacci retracement, horizontal overlap support) for a strong push down to at least 131.52 support (Fibonacci extension, horizontal swing low support).

RSI (34) sees immediate support at 41% and only as the break of this level would confirm further downside movement.

Sell below 132.30. Stop loss is at 132.76. Take profit is at 131.52.


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