USDJPY sees near-term risk for stronger correction

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro is at the back foot on near-term, following extended pullback from last week’s fresh high at 1.1374. Friday’s close in red generated initial bearish signal and weakened near-term studies, with overnight’s acceleration lower and break below psychological 1.1200 support, turning focus at strong 1.1160/20 support zone, 09/10 Feb higher base / daily Tenkan-sen / Fibonacci 38.2% of 1.0709/1.1374 rally. Extended dips should ideally find support here, as daily technicals are bullish,

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