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

The price has shot up and reached our profit target really nicely. We prepare to sell below major resistance at 130.04 (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 129.13 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance below 91% and we expect a strong corresponding reaction off that level.

Sell below 130.04. Stop loss is at 130.72. Take profit is at 129.13.