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Forex Trading: EURJPY Pressing against Resistance

Forex Trading: EURJPY Pressing against Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

The EURJPY is pressing against significant resistance defined by support from May 2010 to the October 2011 intervention low, channel resistance and long term trendline resistance (price closed slightly above the long term trendline this week…we should know if the break is ‘clean’ soon…after all, we’ve seen many more false breaks recently than clean breaks).

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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