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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 Support, Prepare For Bounce

EUR/JPY is approaching its support at 128.56 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 129.81 (50% Fibonacci retracement, horizontal overlap resistance).

Stochastic (55, 5, 3) is approaching its support at 1.7% where a corresponding bounce could occur.

EUR/JPY is approaching its support where we expect to see a bounce.

Buy above 128.56. Stop loss at 127.86. Take profit at 129.81.

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