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14.09.2012 03:22 PM
EurJpy Takes Off Resistance... Awaiting Pullback...

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Technical Outlook and Chart Setups:

What a trending day has it been for the euro bulls! Multiple resistances have been taken off the board. After reaching 102.00 level, we recommend traders to let the prices indicate a pullback towards 97.00 before re-entering short positions. It is expected to begin a retracement in a few trading sessions from today. Fibonacci support begins from 99.00 level.

Trade Recommendations:

Flat for now.

 

Good Luck!

Summary
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