EUR/JPY approaching major support, prepare to buy

The price is approaching major support at 132.01 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a nice bounce above this level to push the price up to at least 134.15 resistance (Fibonacci extension, horizontal swing high resistance).

Stochastic (34,3,1) is seeing major support above 1% where we expect a corresponding bounce from.

Buy above 132.01. Stop loss is at 130.45. Take profit is at 134.15.


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