EUR/JPY analysis for August 09, 2017

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Recently, the EUR/JPY has been trading downwards. As I expected, the price reached the level of 128.41 (yesterday's target). Anyway, according to the 4h time frame, I am still expecting lower price but to confirm further lower price I would like to see a breakout of support at 128.48. If the price breaks the support, watch for potential selling opportunities. The downward targets are set at the price of 126.60 and 125.00.

Resistance levels:

R1: 130.50

R2: 131.30

R3: 131.80

Support levels:

S1: 129.20

S2: 128.70

S3: 127.90

Trading recommendations for today: watch for potential selling opportunities.

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