EUR/JPY profit target reached perfectly, time to turn bearish

Price spiked up perfectly to our profit target as expected. We now turn bearish below 115.66 major resistance (horizontal resistance, Fibonacci projection) for a drop towards 114.83.

RSI (34) is facing a long-term descending resistance which caps our move.

Sell below 115.66. Place stop loss at 116.00 and take profit at 114.83.

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

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