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EURJPY approaching resistance, watch for potential drop!

Short
Euro / Japanese Yen (FX:EURJPY)  
easyMarkets Broker  
FX:EURJPY   Euro / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns EURJPY EUR jpy eurjpylong eurjpyshort Forex forextrading
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trendanalysis harmonicpatterns chartpattern eurjpy eur jpy eurjpylong eurjpyshort forex forextrading
EURJPY is approaching our first resistance at 126.68 (horizontal overlap resistance, 23.6% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 123.35 (horizontal swing low support, 100% Fibonacci extension, 50%, 61.8% Fibonacci retracement). We are also seeing a shooting star formed and ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (55) is also seeing a bearish exit and we might see a corresponding drop in price.
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