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Thursday, September 1, 2011

EUR/JPY Intraday Technical analysis 2011-09-01



Albert Fitoussi Technical analysis

The spot rate is currently testing the upper limit of its medium term bearish channel in 111. A break of these levels would free up significant potential and initiate a bullish trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 111 with a 1st objective of 111.60, then 111.80. A break in 110.80 would invalidate this scenario.
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