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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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EUR/JPY - Monitoring Upward Channel

EUR/JPY is definitely in a bullish channel. However, the pair is monitoring the lower bound of this channel which should trigger further downside moves. Key resistance is located at 116.37 (02/09/2016) and support at 112.09 (21/09/2016 low).

In the longer term, the technical structure validates a medium-term succession of lower highs and lower lows. As a result, the resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. The road is now wide open towards strong support at 94.12 (24/07/2012 low).

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