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EUR/JPY – In the midst of a corrective phase
EUR/JPY remains in the midst of a short-term corrective phase. However, longer-term, we note the break over strong resistance at 123.33, suggesting scope for a return towards 139.22 over the coming weeks and months. A break under 1.2350 would suggest scope for a move back down towards the 121.22 level. It should also be noted that the pair is heavily overbought exhibiting multiple RSI bearish divergences, suggesting caution should be taken when entering into long positions in this pair. EUR/GBP continues to correct lower after breaking under 0.8555 (05/02/2013 low). Scope is now seen for further weakness to test the ... (full story)
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- Feb 8, 2013 12:35pm Feb 8, 2013 12:35pm
- iwjw
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- IberoForex
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- IberoForex
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- iwjw
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- IberoForex
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