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EUR/JPY Outlook: November, 29 2013

Published 11/29/2013, 05:32 AM
Updated 02/21/2017, 08:25 AM

EUR/JPY
The pair continues to trend higher, with 139.00 resistance being under cleared and fresh high posted at 139.69. Corrective pullback on oversold near-term technicals is expected to precede fresh push higher and test of psychological 140.00 barrier and next target. Break below initial support at 139.00, to open higher low at 138.29 and 138.00, round figure / 25/11 high next. Overbought daily studies, however, require caution, as further easing and violation of strong 137 support zone, higher platform / near 50% retracement of 134.09/139.69 upleg, would neutralize near-term bulls and open way for more significant correction of 131.20/139.69 rally.

  • Res: 139.00; 139.21; 140.00; 140.94
  • Sup: 139.00; 138.29; 138.00; 137.15

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