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If we look at the 4-hour chart, the EUR/JPY pair seems to trade lower. This has already been confirmed by the price moving below the 21-period Moving Average. However, in a few moments the pair is going to make the upward correction at least to test the dynamic resistance at the 21-period Moving Average before the price goes down again.
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The material has been provided by InstaForex Company - www.instaforex.com