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EURJPY Technical Analysis & Key Levels to Watch
The EURJPY is starting to look primed for a move higher. The recent higher lows into channel resistance from the April 17 high suggest that buyers are willing to step in at higher prices. I discussed this channel and the potential for a break higher at the end of Sunday’s Weekly Forex Forecast video. Despite this week’s retest of the 119.70 resistance area, buyers aren’t backing down. That doesn’t mean a move higher will happen, though. Remember that nothing is certain, and even a close above resistance could turn out to be a false break. Also, as long as the 119.70 area is intact, sellers are in control. ... (full story)