NL50 Can I set mine JJ here 126BB deep?

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NL50 Can I set mine JJ here 126BB deep?

http://weaktight.com/6325804

MP is 22/16 with a 3-bet of 6.8%, F3B of 47%
CO is 23/18 with a 3-bet of 8.3%, 3-bet in CO of 5.3%, squeeze of 9%

CO is one of the best (if not the best) player at this stake. I am concerned that if I flat here I will often make a mistake pre-flop since I am OOP by either folding the best hand or not getting value.

I am also concerned by the off chance that MP will backraise, since BTN has a 3-bet of 12.3% and both blinds have 3-bet % above 7% (not to mention CO who already squeezed). MP might have been setting up for a backraise play from the start.

Given these factors, I think I have to make a somewhat tight fold?

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