Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

EUR/JPY Approaching Resistance, Prepare For A Reversal

November 7, 2018 Analytics

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EUR/JPY is approaching its resistance at 130.20 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 129.42 (23.6% Fibonacci retracement, horizontal swing low support).

Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.

EUR/JPY is approaching its resistance where we expect to see a reversal.

Sell below 130.20. Stop loss 130.76. Take profit at 129.42.

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The material has been provided by InstaForex Company – www.instaforex.com

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