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Price has touched the resistance (A) on 3 different occasions, on the 3rd touch we seen price show strong rejection therefore causing momentum. Right now price is currently on its way to a (B). If price breaks this level (B) we can expect EURJPY to continue to drop with more pressure.
-Potential red cloud about to form indicating momentum.
-Red line has crossed above the blue line also indicating momentum.
-The green lagging span line has also broken below the cloud indicating a potential sell.
To confirm the downtrend the (B) needs to be broken.
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