FX.co ★ EUR/JPY look to sell once more on resistance

We look to sell once more at 122.95 resistance (Fibonacci extension, horizontal resistance) for a push down to 121.15 support (Fibonacci retracement, horizontal overlap support). We keep our stop loss tight at 123.42 which is above the most recent swing high resistance, so we have a good risk to reward target for this trade.

Stochastic (21,5,3) is seeing major resistance at the 96% level.

Sell below 122.95. Stop loss at 123.42. Take profit at 121.15.