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EUR/JPY: Intraday indicators turn positive - FXStreet

FXStreet (Bali) - Valeria Bednarik, Chief Analyst at FXStreet, notes that intraday indicators are supporting the shorter term bullish view in EUR/JPY.

Key Quotes

"The EUR/JPY tests 137.90 resistance on the back of a dovish FED, as stocks recovery keeps yen under mild pressure."

"The EUR/JPY pressures the 61.8% retracement of its latest bearish run, with 200 SMA a few pips below current price in the hourly chart and indicators maintaining a strong upward tone."

"In the 4 hours chart, indicators gain upward momentum advancing above their midlines, supporting the shorter term view: immediate resistance comes at 138.50, 50% retracement of the same rally."

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