EURJPY approaching resistance, potential drop!

23 янв. 2019 г.

EURJPY is approaching our first resistance at 125.84 (horizontal pullback resistance, 50%, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 123.47 (horizontal swing low support, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.