FX.co ★ EUR/JPY approaching support, potential bounce!

EUR/JPY is approaching our first support at 125.93 (horizontal overlap support, 100% Fibonacci extension, 50% Fibonacci retracement) where we might see a strong bounce above our support to our major resistance at 126.90 (61.8% Fibonacci retracement, horizontal swing high resistance).

Stochastic (34,5,3) is also nearing support where we might see a corresponding bounce in price.

Trading CFDs on margin carries high risk.

Losses can exceed the initial investment, so please ensure you fully understand the risks.