EURJPY approaching support, potential bounce!
Updated
EURJPY is approaching our first support at 132.12 (horizontal swing low support, 23.6% Fibonacci retracement) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 133.09 (horizontal swing high resistance, 50% Fibonacci retracement).
Stochastic (34,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trade closed: target reached
Wohooooo perfect rally up to our profit target!
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