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Tuesday, January 5, 2016

EUR / JPY January 5, 2016: Pressure Downtrend Still Strong

EUR / JPY on Monday was closed with the fall in pairs as much as 124 pips from the opening price of 130.61 and closed at 129.37. The direction the market is able to penetrate the Fibonacci retracement level 100 measured on Thursday, December 3rd which
then the new Fibonacci can be measured on the basis of candle yesterday. Moving averages still indicated to drop seen in the red moving average (MA 4) and blue (MA 13), which has cut green moving average (MA 50) from top to bottom. While the stochastic indicator is still seen to be on the oversold area.

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