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EURJPY: MULTIPLE RESISTANCES WORKING AGAINST THE PAIR RECOVERY.

 

 

 

The Pair EURJPY break down the Descending trend, at 129.441, followed by the short-term channel resistance129.975. More than two months old the channel trend resistance standing as a barrier to the pair further upmove.

As a result, there is a chance for a pullback action from the channel resistance to the 128.750 and the 128.20 can be expected as the following support marks. In case the market printed a strong Impulse for the pullback action means, the 128.20, the 127.70 and the 127.10 horizontal regions and the 126.30 may please the sellers. In this scenario, 125.70, the 125.20 and the 124.85 000 could highlight the bear areas.

On the other hand, if the pair managed to surpass the 129.975 means, the 130.55, the 131.100 are the next stop for the price range. The 131.40, the 132.00 and the 132.60 have a chance to get highlighted.

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11 Sep 2018 1:14 pm Posted by tamilforex

 
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