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15.01.202112:38 Forex Analysis & Reviews: EUR/JPY Decline Confirmed!

Exchange Rates 15.01.2021 analysis

EUR/JPY is trading at 125.84 and it could drop deeper after escaping from the up channels bodies. Failing to approach and retest the major channel's upside line indicated that the buyers are exhausted and that the pair could turn to the downside.

The breakdown from the up channels signals a downside movement, a corrective phase. As you can see on the H4 chart, EUR/USD has retested the broken support lines confirming the bearish movement.

Trading Conclusion!

Dropping below 125.80 level could represent a selling signal. The 125.00 psychological level represents an immediate downside target.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Ralph Shedler,
分析专家
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