EURJPY bouncing off major support, watch for potential rally!

EURJPY is seeing major support above 127.15 (Fibonacci extension, major 38.2% Fibonacci retracement, bullish divergence) and a strong bounce could occur from this level to push prices up to major resistance at 129.18 (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension).
Stochastic (55,5,3) is seeing major support above 4% where a corresponding bounce could occur. We’re also seeing bullish divergence vs price signalling that a bounce could be impending.

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