EUR/JPY right at major resistance again, remain bearish. - Forex247

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Monday, August 22, 2016

EUR/JPY right at major resistance again, remain bearish.

Price is right at major resistance of 114.00 again (overlap resistance, channel resistance, Fibonacci retracement) is our selling area for a further drop to 111.00 support (long-term Fibonacci retracement, key swing low support).

RSI (21) is very close to the 65% resistance where we expect a reaction from.

analytics57baafd744b30.png

Sell below 114.00. Stop loss is at 115.40. Take profit is at 111.00.

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

from www.instaforex.com http://ift.tt/2bINlxy

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