FX.co ★ EUR/JPY dropping nicely, remain bearish below major resistance

Price has dropped nicely from our selling area yesterday. We remain bearish below the 121.23 resistance (Fibonacci retracement, major horizontal overlap resistance) for a push down to the 119.44 support (Fibonacci retracement, horizontal pullback support).

Stochastic (21,5,3) has reacted nicely off major resistance below the 95% level.

Sell below 121.23. Stop loss at 121.83. Take profit at 119.44.