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EURJPY’s tumble takes a break, halting losses
EURJPY seller’s second try only just conquered the 117.43 support, which is the 61.8% Fibonacci retracement of the up leg from 115.85 to 120.00. The pair adopted a brief side move after a sell-off bounced off that level. The flattened 200-period simple moving average (SMA) implies a stall in directional momentum. That said, the unfolding short-term negative outlook seems to be backed by the 50-period SMA, as it has completed a bearish crossover of the 200-period SMA, while the 100-period SMA has also turned downwards. Moreover, short-term oscillators paint a mixed picture, as the RSI is pointing up in bearish ... (full story)