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EUR/JPY PRICE ANALYSIS: WAVE C OF A BEARISH MEASURED MOVE UNFOLDS

ia7145
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  • EUR/JPY continues declining and has formed a bearish pattern called a Measured Move. 
  • It is composed of three waves – wave C appears to be in mid development.
  • The bearish 4-hour chart echoes weak technicals observed on the weekly chart.  

EUR/JPY is down over a third of a percent, trading in the 163.70s on Wednesday, on the back of a mixture of probable intervention by the Japanese authorities to strengthen the Japanese Yen (JPY) and more dovish commentary from rate-setters at the European Central Bank (ECB).  


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