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Lucas: Why I’m selling EURJPY
With EURJPY trading within range of the six-year high reached last Thursday, Steve Lucas from 3c Analysis is looking to sell the currency pair. A shooting star pattern was formed after EURJPY hit EUR 148.96. Trading proceeded lower and ended a sequence of higher daily lows last Friday. Sellers have returned to the markets in Asia, signaling further losses for EURJPY.
Steve is looking to sell at the market and at EUR 146.88. He is expecting a move lower to EUR 145.59 and then EUR 145.15. A stop can be placed at 147.40.
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00:50 minutes
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