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After almost 6 months of consolidation, EURO/YEN broke out of its range last month and continued its up move till the month end and closed in the area of 139. On Monday, the price touched BRN 140 levels and for the next few days price corrected by almost 150 pips. 138.50 was a confluence area since that zone had weekly pivot point and 50% of weekly Fib retracement. Today, the price takes support at this area with a double bottom pattern on 4 hourly chart with second bottom printing a pin bar. …
