easyMarkets
Short

EURJPY approaching resistance, potential drop!

FX:EURJPY   Euro / Japanese Yen
EURJPY             is approaching our first resistance at 130.30 (horizontal swing high resistance, 61.8% Fibonacci retracement ) and a strong reaction might occur below this level, pushing price down to our major support at 128.97 (horizontal pullback support, 23.6% Fibonacci retracement , 61.8% Fibonacci extension ).
Stochastic (55,3) is also seeing a bearish divergence and is approaching our major resistance and a reaction off this level might see a corresponding drop in price.
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