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Forex technical analysis: EURJPY to find the sale of nearly 100 hours/retracement of the test area — Forex Stock Trade




Forex technical analysis: EURJPY to find the sale of nearly 100 hours/retracement of the test area




Move over MA and 38.2% in the absence
The EURJPY has been chop on the rise since the low on Tuesday. Today, the pairs upward movement has seen a lot of green and red bars. A few bars ago, the price moved above the 100 hour MA and the 38.2% retracement level 132.748. That would have sent the price higher with a test of the 50% and 200 hour MA at 133.07 and 133.234 respectively.
This was not to be.
The price break failed and we are in the process to see the price stay below the technical.
Restless buyers turn to sellers?
Close the risk to the shorts are the two technical tools to 132.75 level. Stay below is more bearish.



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