EUR/JPY approaching major resistance, prepare to sell

Price is approaching major resistance at 113.50 (Fibonacci retracement, horizontal overlap resistance, Fibonacci projection) and we expect price to react off that level for a drop to 112.10.

RSI (21) is seeing major resistance from our descending resistance line showing that our bearish move is still in progress.

Sell below 113.50. Stop loss at 114.00. Take profit at 112.10.

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

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