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SEB: Notably large EUR/JPY downside 'Shadow' - eFXnews

FXStreet (Łódź) - The eFXnews team remark that the SEB comments on EUR/JPY's downward move yesterday.

Key quotes

"The deep move lower, breaking a medium-term 'Equality point' at 134.36 was sharply rejected by a strong buyers' response yesterday."

"A short-term pivot and a short-term descending line of resistance near market may provide some resistance and fore the market to retrace some of its intraday gains from yesterday."

"But given the sharp rejections a +136.60 in the cards and if so a tentative target at 137.95 could be applied."

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