Technical alert: EURJPY

EURJPY reached the key intraday support from a technical point of view. The area at 117.00 handle is marked with the lower limit of Overbalance structure as well as 38.2% Fibonacci retracement of the whole upward impulse. In case buyers manage to halt decline there, another upward impulse could be launched. On the other hand, breaking below it may trigger a bigger downward move. 

EURJPY H1 interval. Source: xStation5

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When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses.