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EUR/JPY Outlook: August, 22 2013

EUR/JPY Outlook: August, 22 2013

EUR/JPYThe pair maintains positive near-term structure and attempts again through 131.00 barrier. Previous peak and near-term congestion top. Fresh strength broke above bear-trendline at 130.50, setting scope for clearance of 131.00, to open way for further gains towards significant barriers at 131.95, 02/08 high, and 132.20. Trendline resistance regain of which to confirm higher low at 127.96 and resume larger upleg from 124.94. Positive tone prevails on near-term studies, with daily indicators gaining traction and attempting above their midlines. Immediate supports lay at 130.27/00, while only break below 129.30 higher platform will bring bears back in play. Resistance: 131.54; 131.95; 132.47; 132.72 Support: 130.45; 130.30; 130.00; 129.80


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