EURJPY approaching major support, potential bounce!
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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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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