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EURJPY Approaching Resistance, Prepare For A Drop

Oleh Tickmill
Broker

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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Losses can exceed the initial investment so please ensure you fully understand the risks.
Chart PatternsEUREURJPYforexsignalsHarmonic PatternsjpyTrend Analysis
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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