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Lambert: Signaling a sell-off in EURJPY
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Clive Lambert from FuturesTechs doesn’t believe that EURJPY will surpass the key psychological level of JPY 150.00 without one more break in support. A support level is located at JPY 147.60, which Clive would like to see broken to signal a move lower. Currencies hit new highs against the yen on Monday, with EURJPY reaching JPY 149.78 and the dollar hitting a seven-year high at JPY 121.86. Prices have since sold-off, triggering a sell signal on the intraday chart after dipping below JPY 148.20.
Once support has broken at JPY 147.60, Clive is looking for levels to dip to JPY 145.60 and JPY 144.00. A stop can be placed at JPY 148.20.
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