Looking at the setup on Euro versus Japanese Yen which after breaking below support at 123.5 area, and more importantly holding below as per our trading view chart, the pair is opening up a retest of year to date low at 118 area.
The break below 123.5 area leaves very little in the way of near term support providing a setup with resistance to upside at 123.5 to 123.7 and the next level of support at 118 area.
We have also highlighted on our chart the and the inability to break above 50.
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