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EUR/JPY Price is Getting into the Buying Zone

By:
Nenad Kerkez
Updated: Sep 29, 2020, 15:18 UTC

The EUR/JPY is getting close to the POC zone. The zone is making a confluence of pivot points and 88.6 fib retracement. We could see a bounce.

EUR/JPY

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The EUR/JPY is getting close to the POC zone. The zone is making a confluence of pivot points and 88.6 fib retracement. We could see a bounce.

125.30-40 zone is a possible bouncing spot for the EUR/JPY. We can also see the Bollinger Bands support close to the zone. If we see that W L3 holds than bulls might have a fresh wave up. Targets are 125.65, 126.07 and 126.62. However, a break below 124.83 might lead the price to 124.25, W L4 support.

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The Analysis has been done with the CAMMACD.Core

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About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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