EUR/JPY
reached a high at 137.50 and after forming a shooting star candlestick and a
hanging man candlesticks on the daily time-frame the pair bounced off from that
resistance. The overall move to the downside likely continues despite the
latest rally, as the pair has formed another shooting star candlestick, this
time on the weekly time-frame, at 132.00 and bounced off from that level as
well. The closest target before the pair is at 129.00, which is the (MA)89
indicator on the same time-frame. If the pair manages to break out below that
support level it will likely continue moving to the downside towards 126.55
which is the last low.
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