FX.co ★ EUR/JPY reversing nicely, prepare to sell

We remain bearish looking to sell on strength below 130.93 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a strong push down to at least 12932 support (Fibonacci extension, horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance below 92% and we expect a further drop from this level.

Sell below 130.93. Stop loss is at 131.43. Take profit is at 129.32.