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FX.co ★ EUR/JPY remain bearish for a further drop

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Forex Analysis:::2017-08-25T02:01:09

EUR/JPY remain bearish for a further drop

The price continues to rise and we're now seeing major resistance at 129.40 (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension) where we expect a strong reaction from to fuel the drop to at least 127.56 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is once against testing our 93% resistance level where we expect a drop from.

Sell below 129.40. Stop loss is at 129.86. Take profit is at 127.56.

EUR/JPY remain bearish for a further drop

Analyst InstaForex
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