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EUR/JPY technicals: no sign of topping formation

By   || August 23, 2009 at 21:27 GMT
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eurjpydailyThis pair has been in bullish consolidation since March and an eventual break higher is favoured in the medium term. There are no clear signs that a top is forming although another failure below 139.20 could suggest an imminent reversal. The hourly picture is moderately bullish so buy dips on the day towards 134.60. The daily picture suggests playing the edges of a broad 129/139 range.

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