EUR/JPY Climbing the Fibonacci Sequence

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EUR/JPY continues to recover from the sell-off that was followed by a test and hold of the 170.00 level. So far, there's been very clean structure built along the Fibonacci retracement produced from that prior sell-off.

Most recently it was the 78.6% retracement holding the highs and the 61.8% marker back in as support, after it had previously held as resistance. Next support down plots at the 50% marker and this is what I'm looking at for invalidation of trend, and if that remains respected, the door is open for another run at the highs just inside of the 174.00 handle. - js

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