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

2016-10-20T00:51:26

Long-term review

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

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

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