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Tuesday, 02 February 2016 10:11

EUR/JPY down in the short term?

After a pullback that has overtook the descending 60 days ema and that has tested the trendline, we might expect a decrease of Euro / Japanese Yen Spot in the short term.
January ended with a buying climax with high volumes, which, according to the Volume Spread Analysis, represents a possible reversal setup.

eur jpy euro japanese yen spot buying climax trendline pullback trading for purpose

We can probably expect a short period retracement, but remember: this is not a trade solicitation and, if you decide to trade, you do it at your own responsibility.

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