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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: 139.48/140.00 Intraday high / High Apr 21
  • PRICE: 136.86 @ 17:23 BST Apr 25
  • SUP 1: 136.25 20-day EMA
  • SUP 2: 135.52 Low Apr 14
  • SUP 3: 134.36 Low Apr 8 and a key support
  • SUP 4: 133.94 Low Mar 28

EURJPY trend conditions remain bullish, however, Monday’s sell-off suggests the cross has entered a corrective phase. Price is approaching support at 136.25, the 20-day EMA, where a break would signal scope for a deeper pullback. This would expose key trend support at 134.36, Apr 8 low. The broader uptrend remains intact following the recent move through 137.50/53, the Feb 2 2018 and Mar 28 highs. 140.00, Apr 21 high, is the bull trigger.

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