Sell below 126.94.
Stop loss 127.73.
Take profit at 124.84.
Reason for the trading strategy (technically):
EURJPY is approaching its resistance at 126.94 (100% Fibonacci extension, 23.6% Fibonacci retracement x2, horizontal overlap resistance) where it is expected to reverse down to its support at 124.84 (100% Fibonacci extension).
Stochastic (34, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
Stop loss 127.73.
Take profit at 124.84.
Reason for the trading strategy (technically):
EURJPY is approaching its resistance at 126.94 (100% Fibonacci extension, 23.6% Fibonacci retracement x2, horizontal overlap resistance) where it is expected to reverse down to its support at 124.84 (100% Fibonacci extension).
Stochastic (34, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.