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EUR/JPY May be in For Sharp Break

EUR/JPY May be in For Sharp Break

Jamie Saettele, CMT, Sr. Technical Strategist

Recent action at trendlines and Fibonacci price relationships suggest that risk is lower in EURJPY. Resistance for those not yet invoved is 12475-12515. 12100 is a soft target area between the 1/29 low of 12125 and 1/18 high of 12060.

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

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Jamie is the author of Sentiment in the Forex Market.

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

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