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18.12.2012 10:52 AM
EurJpy Upside Remains Intact. 111.00 Immediate Target

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Technical Outlook and Chart Setups:

Since a few trading sessions there has not been seen structural changes in the pair. Immediate resistance is at 111.00; the bulls are targeting it to be taken out. Support is at 106.00, followed by 105.10/20 levels. It is recommended to continue holding long positions for a push through the 111.00 region for now. Any intraday retracements or pullbacks towards 110.00 level could be utilized as opportunities to go further long. Looking higher for now.

Trading Recommendations:

Hold on to long positions for now, stop is at breakeven. Target is at 111.00.

Good Luck!

Summary
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