FX.co ★ EUR/JPY profit target reached perfectly, prepare to sell once again

The price has dropped perfectly to our profit target. We remain bearish below 130.87 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and we expect a strong reaction from this level to push the price down to 130.04 support (Fibonacci extension, horizontal overlap support).

RSI (34) sees descending resistance pushing the price down really well. It also has good downside potential for a further drop.

Sell below 130.87. Stop loss is at 131.41. Take profit is at 130.04.