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EUR/JPY: trend-line break

   The EUR/JPY pair has temporarily broken down below the trend-line of the June rally. If it continues and breaks 98.30 that will offer further bearish confirmation, signalling a possible resumption of the broader down-trend. The next target lower is the pivot at 97.15 followed by the previous lows at 95.58. If the pair reverses and bounces higher than the first upside target would be at the monthly pivot and the underside of the trend-line at 99.40.

 

Forex4you analyst Joaquin Monfort

Analysis prepared by:

Joaquin Monfort
Forex4you analyst

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