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EUR/JPY Technical Analysis: recovery move stalls at 50-hourly SMA

   •  Snap six days of losing streak amid near-term oversold conditions.
   •  50-period SMA on 1-hourly chart hinders the recovery momentum. 
   •  Weakness back below 125.60 level to fade prospects of any further recovery.

EUR/JPY chart, 1-Hour

Spot rate: 125.90
Daily Low: 124.98
Daily High: 126.37
Trend: Bearish, with chances of some near-term corrective bounce. 

Support 1:             125.00 (psychological mark)
Support 2:             124.62 (11-month low set yesterday)
Support 3:             124.32 (S1 daily pivot point)

Resistance 1:       126.35 (intraday swing high)
Resistance 2:       127.01 (R1 daily pivot point)
Resistance 3:       127.23 (100-SMA H1)

EUR/JPY scope for a visit to 124.08 – Commerzbank

The cross risks a potential visit to the 124.08 level, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “EUR/JPY contin
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EUR/USD fades a spike to 1.1610 ahead of German CPI

After a brief consolidative stint around 1.1575 region, the EUR/USD pair broke to the upside and conquered the 1.16 handle, before reversing towards t
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