FX.co ★ EUR/JPY testing major support, remain bullish

The price has dropped strongly to our buying area. We look to buy above major support at 131.90 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a bounce up to at least 133.42 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).

Stochastic (34,3,1) is seeing major support at 3.7% and we expect to see a corresponding bounce off this level similar to the one we are expecting on price.

Buy above 131.90. Stop loss is at 131.12. Take profit is at 133.42.