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EUR/JPY Classical 05.06

EUR/JPY Classical 05.06

2010-05-06 07:14:00
Joel Kruger, Technical Strategist
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EUR/JPY: The latest sharp downside break below 119.65 to fresh 2010 lows negates any hopes for a recovery and now opens the door for a fresh round of declines down towards critical support by the January, 2009 lows at 112.05.  A break back above 123.35 will now be required at a minimum to relieve downside pressures. 

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 

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