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Technical Analysis
Forex Market Commentary By TitanFX
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[QUOTE="titanfx, post: 132131, member: 33464"] [SIZE=6][B]EUR/JPY – Can Euro Hold This Vs Japanese Yen?[/B][/SIZE] [SIZE=5][B]Key Highlights[/B][/SIZE] · The Euro recently corrected lower towards the 129.00 support against the Japanese Yen. · There are two important bullish trend lines with support at 129.00 forming on the 4-hours chart. [B][SIZE=5]EURJPY Technical Analysis[/SIZE][/B] After topping at 130.80, the Euro corrected lower against the Japanese Yen. The EUR/JPY pair is currently trading above 129.00, which must hold for a bounce back. [IMG]https://titanfx.com/wp-content/uploads/2017/07/EURJPY-Chart-07.19.2017-768x401.png[/IMG] Looking at the 4 hours chart, there are two important bullish trend lines with support at 129.00. These trend lines hold a lot of importance for the current trend above 128.50 and the 100 simple moving average (H4). On the upside, a break above the 61.8% Fib retracement level of the last decline from the 130.76 high to 128.48 low is needed for a retest of 130.50. The H4 RSI is now above 55 for EUR/JPY signaling bullish trend resumption. ------------------------------------------- [B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst'[/I][/B] [/QUOTE]
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