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EUR/JPY analysis for May 10, 2017

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Recently, the EUR/JPY pair has been trading sideways at the price of 123.72. According to the 1H time frame, I found a fake breakout of yesterday's low, which is a sign that selling looks risky. My advice is to consider potential buying opportunities. The short-term trend is bullish. Upward targets are set at the price of 124.30 and 124.50.

Resistance levels:

R1: 123.80

R2: 123.90

R3: 124.00

Support levels:

S1: 123.60

S2: 123.50

S3: 123.40

Trading recommendations for today: consider potential intraday buying opportunities.

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