FX.co ★ EUR/JPY below major resistance, prepare to turn bearish

The key idea is to prepare to sell below major resistance at 116.80 (multiple Fibonacci projections, Fibonacci retracement, horizontal resistance) for a drop to 114.87.

RSI (34) is also approaching major descending resistance where we expect a reaction from.

Sell below 116.80. Stop loss at 117.33. Take profit at 114.87.