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EUR/JPY reversed from support area
- EUR/JPY reversed from support area
- Next buy target - 127.00
EUR/JPY recently reversed up from the support area lying between the powerful support level 125.00 (former strong support level from May) and the the lower daily Bollinger Band. The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing – which started the active impulse wave 3. EUR/JPY is expected to rise further toward the next buy target at the next resistance level 127.00 (top of the earlier wave (iv)).
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