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FX.co ★ Look to sell EUR/JPY on pullback from resistance

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Forex Analysis:::2016-10-20T00:51:26

Look to sell EUR/JPY on pullback from resistance

We look to sell on pullback from major resistance at 113.93 (Fibonacci retracement, horizontal pullback resistance) for a push down to 112.75

RSI (21) is below multiple resistance levels and remains bearish although we intend to see a bounce before a further drop.

Sell below 113.93. Set stop loss at 114.70 and take profit at 112.75.

Look to sell EUR/JPY on pullback from resistance

Analyst InstaForex
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