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USD/JPY Bearish Break Faces Struggle at Support

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD has approached strong resistance levels such as the trend line (red) and the Fibonacci (61.8%). A bearish bounce could indicate the completion of wave C (brown). A bullish break could price move towards the 78.6% and 100% targets. 1 hour The EUR/USD could be building an ending diagonal where the impulse waves are largely overlapping each other, which often happens near strong support and resistance. GBP/USD 4 hour The GBP/USD respected the top of the larger downtrend

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