EUR/JPY profit target reached perfectly, prepare to sell

The price has shot up and reached our profit target perfectly. Now we turn 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) observes resistance at the 92% level.

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

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