EUR/JPY testing major resistance, start to sell - Forex247

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Monday, September 18, 2017

EUR/JPY testing major resistance, start to sell

Price is testing major resistance at 133.19 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction from this level to push price down to at least 131.73 support (Fibonacci retracement, horizontal pullback support) once again.

Stochastic (34,3,1) is seeing strong resistance at 96% and we expect a strong reaction from this level to correspondingly push price down.

Sell below 133.19. Stop loss at 133.87. Take profit at 131.73.

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


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