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EURJPY Approaching Resistance, Prepare For A Drop

FX:EURJPY   Euro / Japanese Yen

EURJPY is approaching its resistance at 124.33 (61.8% Fibonacci extension , 61.8% & 38.2% Fibonacci retracement , horizontal swing high resistance) where it could potentially drop to its support at 122.52 (100% Fibonacci extension *2, 61.8% Fibonacci retracement , horizontal swing low support).
Stochastic (55, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
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This analysis is provided as general market commentary and does not constitute investment advice.
hi, just wondering how you get your 618 fib extension at 1st resistance ? would be grateful if you could explain, thanks
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