Today session brought a real EURJPY sell-off. Price break below three supports – 135.60, 135.10 and 135.00. The latter is the lower limit of the upward channel, in which the EURJPY moved since September 23. Since the beginning of October – until today – we observed sustained growth which has been almost totally dashed during one session. The closest supports can be found near 134.70, 134.40, 134.00.
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Wider view, time-frame D1
Since May 2015 EURJPY moves in consolidation between 133.00 and 140.70. Since July, the price has a problem with reaching the indicated resistance which suggests bulls weakness. But only breakdown of one of the horizntal levels should indicate the future direction of the move.
