FX.co ★ EUR/JPY approaching major support, big upcoming bounce!

Price is approaching our key support where we expect a strong bounce to our resistance level.

Entry : 124.88

Why it's good : horizontal overlap support, 61.8% fibonacci retracement, descending channel's support, 61.8% fibonacci extension

Stop Loss : 124.70

Why it's good : 61.8% fibonacci extension

Take Profit : 125.58

Why it's good : horizontal overlap resistance, 38.2% fibonacci retracement