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EUR/JPY: Trendline resistance breaks; 50% Fibo next at 129.40

The strong down-trend line on the 4-hourly chart has broken (see chart) and next resistance is at a 50% Fibo near 129.40. This market might be caught a bit short, similar to EUR/CHF and EUR/GBP overnight, so buying intraday dips back to the prior trendline looks like a decent strategy.

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