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Above 130.00

EURJPY TECHS
  • RES 4: 131.76 61.8% retracement of the Jun - Sep downleg
  • RES 3: 131.09 High Jul 13
  • RES 2: 130.75 High Sep 3 bull trigger
  • RES 1: 130.38 High Sep 14 high
  • PRICE: 130.26 @ 18:45 BST Sep 28
  • SUP 1: 129.38 20-day EMA
  • SUP 2: 127.94/93 Low Aug 19 / Low Sep 22 the bear trigger
  • SUP 3: 127.88 50.0% retracement of the Oct '20 - Jan rally
  • SUP 4: 127.50 Low Feb 22

EURJPY traded sharply higher on Sep 23 and bulls have not looked back as the cross extends gains. The bounce follows a failure last week to clear support at 127.94, Aug 19 low. A continuation higher would signal scope for gains towards the key short-term resistance at 130.75, Sep 3 high and a bull trigger. On the downside, price needs to clear support at 127.94/93 to signal a resumption of the downtrend. Initial support is at 129.38.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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