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Forex Trading: EURJPY Pressing against Resistance

Jamie Saettele, CMT

The EURJPY is pressing against significant resistance defined by support from May 2010 to the October 2011 intervention low, channel resistance and long term trendline resistance (price closed slightly above the long term trendline this week…we should know if the break is ‘clean’ soon…after all, we’ve seen many more false breaks recently than clean breaks).

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