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EUR/JPY drop nicely, remain bearish — Forex Stock Trade

EUR/JPY drop nicely, remain bearish

Price continues to test the major channel of resistance and we are looking to sell below this level of resistance (Swing high resistance, the channel resistance of Fibonacci extension) for a correction in the short term at least 132.01 support (Fibonacci retracement, horizontal drop support).

Stochastic (55,3,1) is in decline in much of our 96% of the level of resistance with a good potential drawback.

Sell below 134.15. Stop-loss orders to 134.92. Take profit at 132.01.

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