Technical Analysis : EURJPY shorts 162.705 into lows at 163.537

Resistance
163.209
163.180

Fib .50 level
162.946

Support
162.705
162.688

Profit Target
163.537

EURJPY experienced a strong rejection from the Fibonacci level of 162.946 and then broke below the previous day's low of 162.688. An entry has been initiated with the expectation that the price will continue to move towards the profit target of 163.537.

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