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Hits Bull Trigger

EURJPY TECHS
  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 140.87 0.50 proj of the Mar 7 - 28 - Apr 5 price swing
  • RES 2: 140.32 High Jun 3
  • RES 1: 140.30 2.0% 10-dma envelope
  • PRICE: 140.18 @ 15:59 BST Jun 3
  • SUP 1: 138.32/36.85 High May 9 / 20-day EMA
  • SUP 2: 135.72/133.93 50-day EMA / Low May 19
  • SUP 3: 133.17 100-dma
  • SUP 4: 132.66 Low May 12 and the bear trigger

EURJPY climbed further into the Friday close and triggered the bull trigger at Y140.00 in the process. The cross built on gains posted earlier in the week and bullish conditions have strengthened materially. This confirms a resumption of the uptrend that started Mar 7 and opens 140.87, a Fibonacci projection. On the downside, the 20-day EMA at 136.85, is seen as a firm short-term support.

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