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Thursday, December 8, 2011

EUR/JPY Intraday Technical analysis 2011-12-08


Technical analysis

Albert Fitoussi




The spot rate approach to the lower limit of its medium term bullish channel in 103.80 suggesting a rebound. However a break of these levels would entail a bearish channel.
According to previous events, the market indicates a bullish opportunity on the levels of 103.80 with a 1st objective of 104.50, then 104.80. A break in 103.60 would invalidate this scenario.
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