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Trades Above Its Bull Trigger

EURJPY TECHS
  • RES 4: 141.72 High Jan 8 2015
  • RES 3: 141.06 High Jun 4 2015 and a key resistance
  • RES 2: 140.87 0.50 proj of the Mar 7 - 28 - Apr 5 price swing
  • RES 1: 140.64 High Jun 6
  • PRICE: 140.22 @ 15:49 BST Jun 6
  • SUP 1: 138.32/37.47 High May 9 / 20-day EMA
  • SUP 2: 135.90/133.93 50-day EMA / Low May 19
  • SUP 3: 133.27 100-dma
  • SUP 4: 132.66 Low May 12 and the bear trigger

EURJPY extended gains Monday, pushing further through the bull trigger at Y140.00. This strengthens bullish conditions and confirms a resumption of the uptrend that started Mar 7. The move higher opens 140.87, a Fibonacci projection. On the downside, the 20-day EMA at 137.18, is seen as a firm short-term support. A move lower would be viewed as a short-term corrective pullback.

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