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EURJPY recently reversed up from the support area lying between the key support level 120.20 (low of the previous Morning Star from the start of December), lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous sharp upward impulse 3. Given the widespread negative sentiment affecting Yen right now, EURJPY is likely to rise further toward the next resistance level 121.20 (former support from last month). Strong support remains at the support level 120.20.
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