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EUR/JPY Weekly Outlook


EUR/JPY’s rebound from 153.32 prolonged larger final week and it’s now urgent 157.99 excessive. Decisive break there’ll affirm resumption of bigger up development, and goal 162.82 projection degree subsequent. Additional rally will now in favor so long as 155.57 minor assist holds, in case of retreat.

Within the larger image, so long as 151.60 resistance turned assist holds, rise from 114.42 (2020 low) is in progress. On resumption, subsequent goal is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. Nonetheless, sustained break of 151.60 will argue that bigger correction is already underway.

In the long run image, rise from 109.03 (2016 low) is seen because the third leg of the entire up development from 94.11 (2012 low). Subsequent goal is 100% projection of 94.11 to 149.76 from 109.03 at 164.68, and presumably additional to 169.96 (2008 excessive).

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