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EURJPY tumbles near 1-month low; could weaken further
EURJPY has come under renew selling pressure today after it found resistance at the 129.46 obstacle. The price tumbled below the 20-simple moving average (SMA) in the 4-hour chart, indicating further losses. The technical indicators are confirming the strong bearish bias. Looking at the short-term timeframe, the Relative Strength Index (RSI) dropped aggressively below the 50 level and is approaching with strong momentum the threshold of 30. Additionally, the MACD oscillator strengthened its negative structure below the zero line but is still moving above the trigger line. In case of a further sell-off below the ... (full story)
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- almahmoud
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