EUR/JPY is
once again moving to the downside after it bounced off from the support at
109.50 over a month ago. The pair retraced back to 118.45, but then it formed a
doji candlestick below that resistance level on the weekly time-frame and
started moving to the downside. Currently the pair is testing the support at
112.60 and a possible breakout below that level could lead to a further move to
the downside towards 111.30 or even towards the previous low at 109.53. Of
course, the continuation of the bearish trend will not be confirmed before the
EUR/JPY breaks out below the aforementioned previous low.
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