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> Technical Analysis 2017.08.16 - EUR/JPY Yen Still Moving Up?
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Technical Analysis 2017.08.16 - EUR/JPY Yen Still Moving Up?

STO

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On the four hour chart we see the Kijun-sen line under the Tenkan-, the red line has and upwards vector, the blue is staying horizontal. The Chikou Span confirmative line is bisecting the chart from its lower region, indicating a descending cloud. EUR/JPY is flirting with the upper limit of the cloud. Its most proximate support is estimated to the lower limit of the cloud set at 129.63. The most proximate resistance level is also set at the lower limit of the cloud at the price level of 129.90.

The Kijun-sen is overlapping the Tenkan-sen on the daily chart and both are horizontal. The Chikou Span confirmative line is moving through the chart from the upper region, indicating an ascending cloud. EUR/JPY seems to be correcting to the Tenkan-sen line. The pairs most proximate support is estimated at the Tenkan-sen line; 129.70. The last max at Chikou Span is estimated at 131.21 is set as the resistance
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This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/technical-analysis-20170816-eurjpy-yen-still-moving-up/?camp=24219
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