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EURJPY through 163.07934353741496. Is this a confirming a breakout? Will it continue its path in the current trend toward 162.4956?

This trade setup on EURJPY is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 162.4956.

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We expect ZC to trend upwards for the next 48 hours.

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Supports and resistances are primary concepts of technical analysis. Nikkei 225 is heading for an important price of 37699.0000 – read about what this could mean for the future.

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