EURJPY Long ideaThe price is currently within a descending trendline where I'm expecting an upside breakout.
It is also in consolidation within clear Support and Resistance levels, with the potential target being around the resistance zone.
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Jpyindex
JPY index Approaching Support, Prepare For A Bounce
JPY index is approaching its support at 0.145 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.147 (61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support where a corresponding bounce could occur.
JPY index Approaching Resistance, Prepare For A Reversal
JPY index is approaching its resistance at 0.147(61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 0.145(61.8% Fibonacci extension ,38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance where a corresponding reversal is expected.
JPY index near resistance, could dropJPY index is approaching our first resistance at 0.147 (61.8% Fibonacci extension,50% ibonacci retracement, horizontal swing high resistance) where it could potentially drop to its support at 0.145(horizontal swing low support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement).
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JPY INDEX as we see the JPY index is very strong. it will take GBPJPY and USDJPY the make a new lower low