Sell below 131.74.
Stop loss at 132.72.
Take profit at 130.00.
Reason for the trading strategy (technically):
EURJPY is testing its resistance at 131.74 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap resistance) where it could react off, causing price to fall to its support at 130.00 (23.6% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is testing its resistance at 96% where a corresponding drop could occur.
Stop loss at 132.72.
Take profit at 130.00.
Reason for the trading strategy (technically):
EURJPY is testing its resistance at 131.74 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap resistance) where it could react off, causing price to fall to its support at 130.00 (23.6% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is testing its resistance at 96% where a corresponding drop could occur.