EURJPY is holding below descending trendline resistance. With price now below moving average, a short term drop below our 1st resistance at 129.304 towards graphical overlap support and our 1st support at 129.013 could be possible.
Trading Recommendation
Entry: 129.304
Reason for Entry: 23.6% Fibonacci retracement, descending trendline resistance
Take Profit: 129.013
Reason for Take Profit: -27.20% Fibonacci retracement
Stop Loss: 129.534
Reason for Stop Loss: 61.8% Fibonacci retracement, Graphical swing high.
