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04-14-2009, 02:24 PM

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Jason_Lim

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Join Date: Apr 2009

Posts: 59

EURJPY – Watch the support area

EURJPY: Channel base now converges with horizontal support at 131 - 130.50. The overnight high was marginally below the resistance level at 134.50 and the pair is trading poorly again today. A breach of the support area would be a bearish development which would open the way for a move down to the 55 dma around 125.

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