EURJPY profit target reached perfectly, prepare to sell
Sell below 133.12. Stop loss at 133.51. Take profit at 132.28.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly as expected. We prepare to sell below major resistance at 133.12 (Multiple Fibonacci extensions, horizontal pullback resistance) for a push down to at least 132.28 support (Fibonacci retracement, horizontal pullback support).
Stochastic (89,3,1) is seeing major resistance below 99% where we expect a strong reaction from.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly as expected. We prepare to sell below major resistance at 133.12 (Multiple Fibonacci extensions, horizontal pullback resistance) for a push down to at least 132.28 support (Fibonacci retracement, horizontal pullback support).
Stochastic (89,3,1) is seeing major resistance below 99% where we expect a strong reaction from.