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

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Forex Analysis:::2018-06-20T05:18:54

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.

EUR/JPY Bounced Off Support, Prepare For Further Rise!

Analyst InstaForex
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