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EUR/JPY Breaks Above July’s Declining Channel

posted by Avatar FXTimes 301 days ago in EUR, JPY, Technical

The EUR/JPY popped up above a recent range resistance and above a declining channel that held July’s bearish price action. This breakout resulted from Draghi’s comments this morning (7/26 US session), committing everything within the ECB mandate to preserve the euro. The market acted with risk-on trading, pressuring the safe havens like USD and JPY
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