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Atirox.com - Daily Analysis
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[QUOTE="andy.atx, post: 177310, member: 58758"] [SIZE=7][B]EUR/JPY: TECHNICAL ANALYSIS 26.02.20[/B][/SIZE] [URL='https://atirox.com/wp-content/uploads/EURJPYH426022020.png'][IMG]https://atirox.com/wp-content/uploads/EURJPYH426022020.png[/IMG][/URL] [B]Current trend[/B] On the 4-hour chart, the instrument is correcting up from the lower line of the Bollinger Bands. The next strong resistance on the way up will be 120.313-120.357 level. There is a chance of a downward rebound, while its breakout would allow the growth to continue to the area of 120.703 resistance. [B]Alternative scenario[/B] The pullback below 119.860 will be a sign of downward correction development and let the price return to 119.531 support-line. The decisive breakdown of this level is needed to indicate the downward trend resumption. In this case, the next key targets of sellers will be the level of 119.141. [B]Technical indicators[/B] The technical picture is mixed. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. [B]Support and resistance[/B] Support levels: 119.922, 119.531, 119.141. Resistance levels: 120.313, 120.703, 121.094. [B]Trading recommendations[/B] Short positions can be opened below the level of 119.860 with the target at around 119.531 and stop-loss at 119.969. Long positions can be opened above the level of 120.357 with the target at around 120.703 and stop-loss at 120.241. [/QUOTE]
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