EURJPY dropping perfectly as expected, remain bearish
Sell below 121.09. Stop loss at 121.86. Take profit at 119.65.
Reason for the trading strategy (technically):
Price has reacted perfectly from our selling area. We remain bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, recent swing low support).
Stochastic (34,5,3) has reacted off our 92% resistance level perfectly.
Reason for the trading strategy (technically):
Price has reacted perfectly from our selling area. We remain bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, recent swing low support).
Stochastic (34,5,3) has reacted off our 92% resistance level perfectly.
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