easyMarkets
Long

EURJPY approaching major support, potential bounce!

FX:EURJPY   Euro / Japanese Yen
Price is approaching our first support at 124.88 (horizontal overlap support, 61.8% Fibonacci retracement , descending channel’s support, 61.8% Fibonacci extension ) where we might be seeing a strong bounce to our major resistance level at 125.58 (horizontal overlap resistance, 38.2% Fibonacci retracement ). Stochastic is approaching support where we might be seeing a bounce above this level.

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