Euro / Japanese YenShort
EURJPY approaching resistance, potential drop!
EURJPY is approaching our first resistance at 132.80 (100% Fibonacci extension, Elliot wave structure). A strong drop might occur at this level, pushing price down to our major support at 131.62 (horizontal overlap support, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is approaching our major resistance and we might see a corresponding drop in price should react off this level.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Stochastic (55,5,3) is approaching our major resistance and we might see a corresponding drop in price should react off this level.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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