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25.08.2011 11:24 AM
EUR/JPY Intraday Technical analysis

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The spot rates approach the upper limit of its medium-term bullish channel in 111.40 suggesting a decline. However a break of these levels would initiate a bullish trend more violent.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 111.40 with a 1st objective of 112.10, then 112.30. A break in 111.20 would invalidate this scenario.

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