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 Support, Prepare For A Bounce!

July 24, 2018 Analytics

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EUR/JPY is approaching its support at 129.60 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where a bounce is expected, causing price to rise to its resistance at 131.12 (61.8% Fibonacci retracement, horizontal pullback resistance).

Stochastic (89, 5, 3) is approaching its support at 2.5% where a corresponding bounce could occur.

EUR/JPY is approaching its support where a bounce is expected.

Buy above 129.60. Stop loss at 128.54. Take profit at 131.12.

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

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