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Approaching Key Resistance Zone

EURJPY TECHS
  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 140.87 0.50 proj of the Mar 7 - 28 - Apr 5 price swing
  • RES 2: 140.00 High Apr 21 and the bull trigger
  • RES 1: 138.50 Intraday high
  • PRICE: 137.87 @ 15:33 BST May 31
  • SUP 1: 136.35 20-day EMA
  • SUP 2: 135.44/133.93 50-day EMA / Low May 19
  • SUP 3: 133.01 100-dma
  • SUP 4: 132.66 Low May 12 and the bear trigger

EURJPY maintains a firmer tone and the cross has traded higher again today. Price is above initial resistance at 138.32, May 9 high and attention turns to the key resistance and the bull trigger at 140.00, Apr 21 high. Key support has been defined at 132.66, the May 12 low. A break of this support would be a bearish development. Initial firm support is at 135.44, the 50-day EMA.

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