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Forex Fundamental Analysis

Thu,15 Dec 2016-   TechnicalAnalysis

The previous day high of the pair EURJPY was 123.461 whereas previous day low of the pair was 122.127. As evident from the previous movements of the trend, the pair was following an ascending wedge pattern so technically there is a high probability of bearish trend today. The best time to go for short trade is when there is a bearish wedge breakout. in this case two target profits can be set: one at 122.127 and if there is still bearish trend second target profit can be set at 120.951, further short trade can be followed in case of bearish trend continuity but in case of pullback counter long trade opportunities can be availed accordingly. News related to EUR: Manufacturing PMI, services PMI, long term refinancing operation are due today.



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Aimen Tayyab 

Financial Analyst