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(Z2) Corrective Bounce Extends


E-MINI S&P (Z2): Rallies And Clears Resistance


(Z2) Pierces The 50-Day EMA

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Another Cycle High

  • RES 4: 131.96 1.00 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 130.43 High Apr 24 2002
  • RES 2: 130.00 Psychological round number
  • RES 1: 129.44 0.764 proj of the Feb 24 - Mar 28 - 31 price swing
  • PRICE: 127.76 @ 16:13 BST Apr 20
  • SUP 1: 127.47/26.98 Low Apr 20 / Low Apr 19
  • SUP 2: 125.87 Low Apr 15
  • SUP 3: 125.09 Low Apr 14
  • SUP 4: 124.08 20-day EMA

USDJPY rallied initially Wednesday, extending the recent bullish cycle to touch 129.40. The uptrend remains firmly intact and short-term pullbacks - as seen on Wednesday - should prove corrective. Recent activity reinforces underlying bullish conditions and signals potential for a continuation of the bull cycle, with the focus on 129.44 next, a Fibonacci projection, ahead of the psychological 130.00 handle. A firm support is seen at 125.09.

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