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Short

Short EUR/JPY rallies for 114.20

FX:EURJPY   Euro / Japanese Yen
202 0 12
EUR/JPY             is attempting a tepid recovery from session lows at 114.43.

Intraday bias lower, upside capped by 5-DMA at 114.82.

We see scope for test of 114.20 (major trendline support).

Further weakness only on break below. Test of 112.30 levels then likely.

Major support levels - 114.20 ( trendline ), 114, 113.81 (Sept 7 low), 113

Major resistance levels - 114.64 (50-DMA), 114.81 (5-DMA), 114.91 (10-DMA)

Good to sell rallies around 114.70, SL: 115, TP: 114.20
Comment: Target price hit
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