Potential bullish rise?EUR/JPY is reacting off the support level which is an overlap support that is slightly above the 38.2% Fibonacci retracement and could rise from this level to our take profit.
Entry: 161.19
Why we like it:
There is an overlap support level that is slightly above the 38.2% Fibonacci retracement.
Stop loss: 157.59
Why we like it:
There is a pullback support level which lines up with the 61.8% Fibonacci retracement.
Take profit: 165.15
Why we like it:
There is a pullback resistance level which aligns with the 78.6% Fibonacci retracement.
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