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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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Daily analysis of EUR/JPY for December 28, 2016

EURJPYH4.png

Overview

No news for EUR/JPY. The pair is still fluctuating below the bearish channel's resistance at 123.80, thus keeping the bearish correctional expectation in the upcoming trading. We await new negative momentum, which increase the chances of reaching 121.60. A break of this level will extend the expected losses to 120.00 in the upcoming period. We should mention that the price rally above the mentioned resistance will cancel the bearish overview leading to a new bullish bias and targeting positive levels that begin at 124.60 and run to 126.15. The expected trading range for today is between 123.80 and 121.60.

The material has been provided by InstaForex Company - www.instaforex.com