EUR/JPY Approaching Resistance, Prepare For Reversal

The EUR/JPY pair is approaching resistance at 125.01 (50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 122.00 (50% Fibonacci retracement, horizontal swing low support).

Stochastic (89, 5, 3) is nearing its resistance at 97% where a corresponding reversal is anticipated.

EUR/JPY is approaching its resistance where we expect to see a reversal.

Sell below 125.01. Stop loss at 127.51. Take profit at 122.00.


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