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EUR/JPY remains bearish at major resistance

We remain bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, and recent swing low support).

Stochastic (34,5,3) has reacted off our 92% resistance level perfectly and continues to see resistance there.

Sell below 121.09. Stop loss is at 121.86. Take profit is at 119.65.

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