EUR/JPY below major resistance, prepare to turn bearish

By | November 15, 2016

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The key idea is to prepare to sell below major resistance at 116.80 (multiple Fibonacci projections, Fibonacci retracement, horizontal resistance) for a drop to 114.87.

RSI (34) is also approaching major descending resistance where we expect a reaction from.

Sell below 116.80. Stop loss at 117.33. Take profit at 114.87.

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The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex

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