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EURJPY approaching resistance, watch for potential drop!

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Euro / Japanese Yen (FX:EURJPY)  
Tickmill Broker  
FX:EURJPY   Euro / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns EURJPY EUR jpy eurjpylong eurjpyshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern eurjpy eur jpy eurjpylong eurjpyshort forex forextrading forexsignals
Price is approaching our first resistance at 127.70 (horizontal overlap resistance, 23.6%, 38.2% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 126.26 (horizontal overlap support, 100% Fibonacci extension76.5% Fibonacci retracement).
RSI (21) is also seeing facing bearish pressure from our resistance line and is approaching our resistance where a reaction off this level might see a corresponding drop in price.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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