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EUR/JPY Technical Analysis - Prices moved lower as expected after putting in a Shooting Star candlestick below resistance at a falling trend line set from late May. The pair is now testing through support at 130.90, the 23.6% Fibonacci retracement, to challenge an upward-sloping hurdle at 130.41. A break below that eyes the 38.2% Fib at 129.76. Trend line resistance is now at 132.21.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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