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EUR/JPY 20/06/18 | EconAlerts

Technical Analysis – EUR/JPY the bearish outlook remains intact

EUR/JPY rises to 23.6% Fibonacci level after sharp sell-off. EUR/JPY pared some of Tuesday’s losses and re-challenged the 23.6% Fibonacci retracement level of the down-leg from 137.50 to 124.60, around 127.65. The momentum indicators are supportive of the short-term bullish correction, with the RSI flattening into negative, the MACD oscillator approaching the trigger line, while stochastic

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