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EURJPY hits new highs in the last 10 years or so, with the price acting impulsively on the monthly and weekly charts, but traders should be aware of a new deeper correction now on a daily chart that can already be in progress after prices found resistance at 164. We see some nice and sharp reversal in the last week or so, so it appears that a three-wave higher degree A-B-C correction within wave (IV) can be in play, possibly back to 151 – 150 support area before we will see a bullish continuation.
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