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Forex4you Technical Analysis 29 June 2011

Discussion in 'Technical Analysis' started by forex4you, Jun 29, 2011.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
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    EUR/JPY: reaching resistance
    The pair is rallying up quite strongly although resistance from a major trendline at the current highs at 117.00 will probably curb the advance. If the exchange rate reverses from there it could begin a decline back down to the 114.00 lows although support at 116.45 gives a closer target. If it breaks above the trendline then it will probably fulfil the upside target on the the 0.1x3 point and figure chart at 119.50 in time.


    Analysis by: Joaquin Monfort
    Forex4you analyst

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