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 testing major support, watch for a bounce

July 25, 2018 Analytics

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EUR/JPY is seeing strong support at 129.66 (Fibonacci retracement, Fibonacci extension, ascending support) and a strong bounce could occur at this level to push prices all the way up to our profit target level at 131.95 (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is seeing strong support above 4.7% where a corresponding bounce could occur and push prices up.

EUR/JPY is seeing strong support and has a high potential for a bounce.

Buy above 129.66. Set stop loss at 128.53 and take profit at 131.95.

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

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