01.09.201108:34 Forex Analysis & Reviews: EUR/JPY Intraday Technical analysis

Long-term review

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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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