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Approaching Key Resistance

EURJPY TECHS
  • RES 4: 134.13 High Jun 1 2021 and a major resistance
  • RES 3: 133.36/48 3.0% 10-dma envelope / High Oct 20 2021
  • RES 2: 133.15 High Feb 10 and a bull trigger
  • RES 1: 132.65 High Feb 11
  • PRICE: 132.25 @ 06:13 GMT Mar 22
  • SUP 1: 130.72 Low Mar 17
  • SUP 2: 129.58 20-day EMA
  • SUP 3: 127.42 Low Mar 10
  • SUP 4: 126.01 Low Mar 9

EURJPY remains in a short-term uptrend and the cross is trading higher once again today. Recent gains have resulted in breach of all key retracement levels of the recent Feb - Mar downleg. The cross also remains above both the 20- and 50-day EMAs. This has exposed key resistance at 133.15, the Feb 10 high and 133.48, the Oct 20 201 high. Initial support is seen at 130.72, the Mar 17 low.

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