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Approaching Key Resistance

EURJPY TECHS
  • RES 4: 127.88 0.618 projection of May - Jun rally from Oct 30 low
  • RES 3: 127.50 High Mar 1, 2019
  • RES 2: 127.08 High Sep 1 and the bull trigger
  • RES 1: 127.01 High Dec 18
  • PRICE: 126.99 @ 06:40 GMT Dec 29
  • SUP 1: 125.99 20-day EMA
  • SUP 2: 125.71 Low Dec 16
  • SUP 3: 125.13 High Nov 9 and recent breakout level
  • SUP 4: 125.15/29 50-day EMA / Channel low drawn off Oct 30 low

EURJPY continues to trade sideways but is testing the top of this month's range at 127.01. A clear break of this hurdle would confirm a resumption of the uptrend that started Oct 30 and a break of 127.08, Sep 1 high would confirm a resumption of the broader uptrend that started early May. This would pave the way for a climb towards 127.50, Mar 1, 2019 high. Key near-term support has been defined at 125.71, Dec 16 low.

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