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ICmarkets
Jan 18, 2019 3:27 AM

EURJPY Approaching Resistance, Potential for A Reversal Short

Euro Fx/Japanese YenFXCM

Description

EURJPY is approaching resistance at 125.01 (50% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 122.00 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
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