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    Technical Analysis – EURJPY gives bullish signals

    Posted on February 19, 2015 by the XM Investment Research Desk at 8:08 am GMT

    EURJPYDailyfeb19EURJPY has maintained its corrective bounce from the 130.13 low hit on January 26 (17-month low). The near-term picture looks bullish as the daily tenkan-sen crossed above the kijun-sen line. Also in other indicators, the daily stochastic crossed above its signal line, so this is also a bullish signal. The RSI is rising steadily.

    To the upside, the next target would be the February 11 high of 136.68 which is also where the 23.6% Fibo lies from the 94.09 – 149.76 upleg. Below 133.66 would threaten the corrective move and the downside could resume towards the 130.13 low.

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