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EURJPY has retraced below yesterdays low but failed to stay there for a long period of time and quickly retraced back. This underlines the context that the market is still very strong structurally.The low made today is the one to watch out for. A break below it would invalidate the entire triangle and bullish scenario. For the time being the long position remains the best option. The stop loss should be placed just below the most recent swing low at the red rectangle and the take profit just around the purple rectangle are which represents the hight of the triangle formation placed from the point of break.
