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27th Jun - EUR/JPY Hovering Above Key Support

27 June 2013

WEEKLY CHART:

The upmove tested/eroded the 50% retracement just above 132.00, prior to a retreat. 50% levels can sometimes work well in JPY-related markets.

DAILY CHART:

Resistance came from around a Fibo projection at 134.17, and the pullback has found initial support at a 23.6% retracement at 124.40. A channel base projection at 124.00 also offers support, and a break of this would further signal a loss in overall upward momentum. This would sideline bulls and invite lower targets.

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28th June - The S&P will shake iff the fed

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26th Jun - Gold Testing Long Term 38.2% Level

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