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EURJPY drops to 2-year low; fills the gap from April 2017

From xm.com

EURJPY fell aggressively, after breaking below the 50-day simple moving average (SMA) and the 120.77 then support, further past the 120.04 inside swing low to a 2-year low of 117.66 in the last week. The move filled the gap from back in April of 2017. After a pullback, the price lost its steam and now sits on the middle Bollinger band. The MACD crossed above its red trigger line in the negative region but has started to flatten, whereas the RSI hovers below the neutral 50 level slightly pointing up. Furthermore, the Bollinger outer bands are flat, also suggesting a short-term sideways move. If sellers come on board ... (full story)

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  • Category: Technical Analysis