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Corrective Pullback

EURJPY TECHS
  • RES 4: 141.58 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: 137.41 @ 08:15 BST Apr 25
  • SUP 1: 136.87 Low Apr 19
  • SUP 2: 136.25 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 short-term are considered corrective. The recent move through 137.50/53, the Feb 2 2018 and Mar 28 highs respectively, confirmed a resumption of the bull leg that has been in place since Mar 7. This has also highlighted an extension of the broader bullish price sequence of higher highs and higher lows. The focus is on a break and close above 140.00 next. Initial firm support is at 136.25.

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