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Technical Analysis

EUR/JPY Bears In Control


Price extends the bearish momentum, a retest of the 38.2% retracement level and the median line (ml) of the minor descending pitchfork will validate a further drop in the upcoming period. The next downside target will be at the lower median line (lml) of the minor descending pitchfork. We have a major support at the 126.05 level as well.

Author: MultiBank Exchange Group Website:
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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