FX.co ★ EUR/JPY testing major resistance, start to sell

Price continues to test major resistance at 133.19 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction from this level to push price down to at least 131.73 support (Fibonacci retracement, horizontal pullback support) once again.

Stochastic (34,3,1) is seeing strong resistance at 96% and we expect a strong reaction from this level to correspondingly push price down.

Sell below 133.19. Stop loss at 133.87. Take profit at 131.73.