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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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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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The material has been provided by InstaForex Company - www.instaforex.com