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24.07.2012 09:43 AM
EurJpy Bounces Just Shy Of 94.10

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Technical Outlook and Chart Setup:
As depicted above, the single currency pair has just bonced off its projected down targets at 94.10 levels. It has produced a Hammer yesterday which warns us of a potential reversal here. We recommend bears to book profits and take money off the table from short postions built last week. There maybe a potential reversal setting up underway.
Trading Recommendations:
1. Book profits from the short positions taken yesterday.
2. Aggressive buy strategy can be implemented with stop below yesterday's lows.
 
Good Luck!

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