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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/JPY dropping nicely from our selling area

Price has tested our selling area and is dropping nicely from there. We remain bearish below major resistance at 125.55 (Fibonacci extension, Elliott wave theory, swing high resistance, bearish divergence) for a strong push down to at least 124.72 support (Fibonacci retracement, horizontal swing low support).

Stochastic (55,5,3) is dropping nicely from our 94% resistance with good downside potential.

Correlation analysis: We're expecting general JPY strength with USD/JPY expecting a drop too.

Sell below 125.55. Stop loss at 126.09. Take profit at 124.72.

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