EURJPY approaching support, potential bounce!

EURJPY is approaching our first support at 127.5 (61.8% fibonacci extension, 76.4% fibonacci retracement, horizontal swing low support) and a strong bounce might occur above this level pushing price up to our major resistance at 128.0 (61.8% Fibonacci extension, 50% fibonacci retracement).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks