EUR/JPY right above strong support, remain bullish
February 9, 2017 4:02 pm
We remain bullish above the 119.65 support (major horizontal support, Fibonacci retracement) for a push up to the 121.08 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is seeing a strong support above the 6% level and also displays bullish divergence vs the price signalling a bullish reversal, which is expected soon.
Buy above 119.62. Stop loss at 118.63. Take profit at 121.08.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
We remain bullish above the 119.65 support (major horizontal support, Fibonacci retracement) for a push up to the 121.08 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is seeing a strong support above the 6% level and also displays bullish divergence vs the price signalling a bullish reversal, which is expected soon.
Buy above 119.62. Stop loss at 118.63. Take profit at 121.08.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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