EURJPY approaching resistance, watch for potential drop!

EURJPY is approaching our first resistance at 127.577 (horizontal pullback resistance, short term ascending pullback resistance line, 23.6% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 126.62 (horizontal swing low support, 61.8% Fibonacci extension).
RSI (34) is also facing bearish pressure from our descending resistance line and we might see a corresponding drop in price.
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