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Meets The 140.00 Handle

EURJPY TECHS
  • RES 4: 141.25 3.0% 10-dma envelope
  • RES 3: 141.06 High Jun 4 2015 and a key resistance
  • RES 2: 140.93 0.50 proj of the Mar 7 - 28 - Apr 8 price swing
  • RES 1: 140.00 High Apr 21
  • PRICE: 139.50 @ 15:48 BST Apr 21
  • SUP 1: 137.53/36.87 High Mar 28 / Low Apr 19
  • SUP 2: 135.65 20-day EMA
  • SUP 3: 134.26 Low Apr 8 and a key support
  • SUP 4: 133.94 Low Mar 28

EURJPY trend conditions remain bullish and price briefly met the Y140.00 handle on Thursday - another fresh cycle high. The recent breach of 137.50/53, the Feb 2 2018 and Mar 28 highs respectively, confirms a resumption of the current bull leg that started Mar 7. This also marked the end of the recent corrective phase. The focus is on a break and close above 140.00 next. Initial firm support is at 135.65, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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