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The Daily Forecaster: EURJPY

Discussion in 'Technical Analysis' started by ActionForex.com, Jan 26, 2010.

  1. ActionForex.com

    ActionForex.com Content Contributor

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    Price was stronger than expected and this is forcing us into a similar situation as in EURUSD… Indeed, any break above 1.4192-00 EURUSD should see a reaction higher here also. However, until that occurs take care. If seen then I'd look for gains to extend to 129.49 at least but...

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  2. Fxtrader88

    Fxtrader88 New Member

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    Intraday bias in EUR/JPY remains on the downside for lower channel support (now at 129.51) first. Sustained break there will pave the way for a test on 126.09 low. Nonetheless, considering bullish convergence condition in 4 hours MACD, break of 131.57 resistance will indicate short term bottoming and bring stronger rebound.
     
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