EUR/JPY price action was rejected from double top at 129.47 (Jan 5th and 27th), day's highs were also capped at 129.47.
- The pair has been trading a falling wedge pattern, and scope builds for further downside.
- Stochs are at overbought territory on daily charts and have shown a bearish crossover, RSI also points south.
- Bearish invalidation only on breaks above 129.75, gains upto 130.11 then possible.
Recommendation: Good to sell EUR/JPY rallies around 129.25, SL: 130, TP: 127.80/50
