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Struggling to break trendline resistance: EUR/JPY technical analysis
The EUR/JPY continues to see two-way trading action, as the pair struggles to break free from the 116.00 to 120.00 trading range. EUR/JPY analysis shows that the pair is technically bearish and remains trapped within a descending broadening wedge pattern. The euro currency has recently been struggling to rally against the Japanese yen as safe-haven currencies are in strong demand. Recent upside failures around the 120.00 level have caused the EUR/JPY to slip back under its 200-day moving average. EUR/JPY technical analysis over the medium-term shows that the pair needs to break major trendline resistance on the daily ... (full story)