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Forex Analysis: The yen makes the attempts to grow

Forex Analysis: The yen makes the attempts to grow

Euro

The euro grew on Friday trades. Earlier the European currency fell against the dollar and the pound after the next long-term lending operations results release was held by the ECB. The traders’ attention will be focused on the October euro area industrial production release, the forecast expects an increase by 0.2% m/m and 0.8% y/y after a 0.6% m/m, 0.6% y/y in September. The25th figure importance for the pair is obvious as all the pair attempts to overcome it are unsuccessful. This level continues to attract the sale interest, so the pair fell down to the support around 1.2350-1.2370 that increases the downside risks to the 23rd figure. Then the pair rose above the level of 1.2425-1.2445.

The yen makes the attempts to growThe support levels are 1.2405-1.2425, and the resistance levels are 1.2500-1.2525.

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