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EUR/JPY – Bulls to cheer hourly closing above 124.44

FX:EURJPY   Euro Fx/Japanese Yen
Euro’s rebound from head and shoulder neckline support if followed by hourly closing above 124. 44             (head and shoulder high) would pave way for extension of rally to larger falling trend line resistance seen around 124.50 levels.
On the other hand, failure to sustain above 124. 44             if followed by a break below 124.00 would shift momentum back in favor of the bears.
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