Reason for the trading strategy (technically):
Price is approaching strong resistance at 124.62 ( , horizontal overlap resistance, ) and we expect a drop from this level to at least 123.19 support ( , horizontal swing low support).
(34,5,3) is seeing major resistance below the 94% level where we expect a strong drop from.
Correlation analysis: AUDJPY and USDJPY are expecting bounces. So we have to exercise caution on this trade.