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.

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

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