The price bounced perfectly above our buying level and reached our profit target. We now turn bearish below strong resistance at 122.21 (Fibonacci retracement, horizontal overlap resistance) for a drop to at least 121.11 support (Fibonacci retracement, Fibonacci projection, and horizontal support).
Stochastic (21,5,3) has reacted off our 92% resistance nicely and has good downside potential.
Sell below 122.21. Stop loss is at 122.68. Take profit is at 121.11.
