EURJPY approaching resistance, potential drop!

12 ก.ค. 2018

EURJPY is approaching our first resistance at 131.32 (horizontal swing high resistance, 50%, 76.4% Fibonacci retracement) where a strong reaction might occur below this level pushing price down to our major support at 129.23 (horizontal pullback support, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.