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Approaching Support At The 50-Day EMA

EURJPY TECHS
  • RES 4: 152.00 1.382 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 3: 151.61 High May 2 and the bull trigger
  • RES 2: 149.27/150.39 High May 8 / 3
  • RES 1: 147.66 20-day EMA
  • PRICE: 147.04 @ 15:51 BST May 12
  • SUP 1: 146.13/146.02 Low May 11 / 50-day EMA
  • SUP 2: 145.82 2.0% 10-dma envelope
  • SUP 3: 145.67 High Mar 31
  • SUP 4: 144.88 Low Apr 11

EURJPY traded lower again on Thursday. The cross has breached the 20-day EMA, and short-term trend conditions are bearish. A continuation lower would expose key support at 146.02, the 50-day EMA and 145.82, the lower band of a 2.0% 10-dma envelope. Short-term weakness is considered corrective and trend signals highlight an uptrend. Key resistance is at 151.61, May 2 high. Initial firm resistance is 149.27, the May 2 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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