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EUR/JPY finding support into key 147 territory again - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that with Japan closed on Monday due to Labor Thanksgiving holiday, yen crosses managed to advance all through the day.

Key Quotes:

“Sending EUR/JPY back above the 147.00 figure”.

“The rally was also supported by rising stocks all across the world, with mixed closes in Europe and shy gains in US indexes”.

“Technically, the pair has found short term resistance in its 1 hour 100 SMA around current levels, with 200 SMA offering now support around 145.90”.

“Indicators in the mentioned timeframe look exhausted to the upside, presenting a limited retracement from overbought levels, not yet supporting a downward move”.

“In the 4 hours chart momentum heads higher below 100 whilst RSI crossed above 50 and maintains the bullish slope, supporting some further recoveries towards 147.65, immediate resistance level”.

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