Tickmill
Long

EURJPY approaching support, potential bounce!

FX:EURJPY   Euro / Japanese Yen
EURJPY is approaching our first support at 125.93 (horizontal overlap support, 100% Fibonacci extension , 50% Fibonacci retracement ) where we might see a strong bounce above our support to our major resistance at 126.90 (61.8% Fibonacci retracement , horizontal swing high resistance).
Stochastic (34,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice.
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