EUR/JPY - Recorded a Strong Bearish Day - Fell 0.8% - 09/06/2017 (GMT)
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EUR/JPY Chart
Euro has been developing lower against the Japanese yen on Tuesday as it lost some ground and slipped 0.8% after the pullback on the 19-month high at 131.70. The 200-week SMA is acting as a very strong resistance obstacle for the bulls as it turned away the price and failed to end the last nine weeks above it. On the other hand, the 50-week SMA is ready to create a bullish crossover with the 100-week SMA but there is an indication for further losses until the 127.60 support level, which overlaps with the 100-day SMA. In the less expected scenario, the price may jump above the 50-day SMA and moves towards 131.70. The MACD oscillator is falling into the positive area and the RSI indicator sank into bearish path but is sloping slightly upwards.
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