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EURJPY → Next on the downside comes 161.20

Short
Euro / Japanese Yen (FX:EURJPY)  
tradingconmike  
FX:EURJPY   Euro / Japanese Yen
Trend Analysis Chart Patterns EURJPY eurjpyshort eurjpyanalysis eurjpysignal eurjpytrade
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trendanalysis chartpattern eurjpy eurjpyshort eurjpyanalysis eurjpysignal eurjpytrade
EURJPY corrects further down and drops to four-day lows around 162.20 on Tuesday.

The continuation of the downward bias carries the potential to drag the cross to the weekly low of 161.20/25 band (November 21) prior to the provisional 55-day SMA, today at 159.40.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA at 153.37.
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