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Approaching Key Support

EURJPY TECHS
  • RES 4: 144.28 High Jun 28 and key resistance
  • RES 3: 142.37 High Jul 5
  • RES 2: 141.30 20-day EMA
  • RES 1: 139.50 High Jul 6
  • PRICE: 138.18 @ 16:18 BST Jul 6
  • SUP 1: 137.85 Low Jun 16 and key support
  • SUP 2: 137.10 61.8% retracement of the May 12 - Jun 28 climb
  • SUP 3: 136.25 Low May 30
  • SUP 4: 135.40 76.4% retracement of the May 12 - Jun 28 climb

EURJPY maintains a short-term bearish tone. The cross continues to pull away from 144.28, the Jun 28 high. This has resulted in a move below both the 20- and 50-day EMAs and signals scope for an extension lower. The focus is on 137.85, the Jun 16 low and a key short-term support. A break would further strengthen bearish conditions. On the upside, initial firm resistance is seen at 142.37, the July 5 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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