The false breakout above the 1127.15 level last week may worry some longs as a possible double top/false breakout may be developing. A move back below the 126.00 level could illicit some selling back to the 125.00 key breakout point. This is a very important level support as the multi year trend line re-test also comes in at 125.00. Below, the picture could turn bleak for the EURJPY bulls.
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