FX.co ★ EUR/JPY Bounced Off Support, Prepare For Further Rise!

EUR/JPY bounced nicely off its support at 126.86 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where we expect the price to rise to its resistance at 128.48 (50% Fibonacci retracement, horizontal swing high resistance).

Stochastic (89, 5, 3) bounced off its support at 2.8% where a corresponding rise is expected.

Buy above 126.86. Stop loss at 125.90. Take profit at 128.48.