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EURJPY is in downtrend and the pattern on the upside looks very clean. Aligning to it, fundamentally Risk ON market hasnt picked up yet. Hence it is highly likely to continue the downtrend. According to the following daily chart, EURJPY may try a dead bounce before continuing further on the decline.
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EURJPY is slightly bullish
EURJPY is setting up nicely again for a bullish run, even though economic slowdown may slow down this bull run as well. Please find below the chart analysis,
Weekly chart:
- This pair is trading in a range since May and it is yet to breakout from this region
- There are lot of upside pressure showing more solid move as well as consecutive Doji's, but because of the EURO economic situation the this pair was unable to break out.
Monthly chart:
- Chart is showing two trend observation. But previou…
Weekly chart:
- This pair is trading in a range since May and it is yet to breakout from this region
- There are lot of upside pressure showing more solid move as well as consecutive Doji's, but because of the EURO economic situation the this pair was unable to break out.
Monthly chart:
- Chart is showing two trend observation. But previou…