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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 - Breaking Support At 120.55

EUR/JPY's demand has faded abruptly. Strong hourly support given at 120.55 (17/01/2017 low) has been broken while resistance is given at 123.31 (27/01/2017 high). The road is wide open towards support at 1118.73 (05/12/2016 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. Strong support at 94.12 (24/07/2012 low) looks nonetheless far away.

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