The EURJPY dropped significantly last 2 days and reached the major support at 131.7 area. The price respected that level multiple times and it is expected it will do again. The big orders are usually placed at key areas and it is more likely that there will be buying orders there. Moreover, the 38.2% Fibonacci retracement perfectly matches that same support area.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.