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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 reversed off key resistance, a drop is possible!

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EURJPY reversed off key resistance, a drop to first support is possible

Entry: 121.64

Why it's good : 61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback resistance

Stop Loss : 122.24

Why it's good :50% Fibonacci retracement, horizontal overlap resistance

Take Profit : 120.75

Why it's good: 76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing low support

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