Monday, February 8, 2016

Breakout and pullback pattern on the EUR/JPY

The Euro versus the Yen has completed a breakout and pullback pattern on the weekly chart around the 200 week exponential moving average along with the 131.00 round number level. It is possible for price to continue falling, but the 126.08 area may act as support. To the upside, the 134.00 or the 135.00 could act as resistance in case the price breaks that moving average to the upside.


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