EURJPY testing major support, potential for a bounce!

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EURJPY is testing major support at 127.89 (Fibonacci retracement, Fibonacci extension, breakout level) and a strong bounce could occur at this level to push prices all the way up to major resistance at 129.41 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance).

Stochastic (55,5,3) is seeing major support above 5.7% where a corresponding bounce could occur.

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