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Approaching The 20-Day EMA

EURJPY TECHS
  • RES 4: 140.07 High Jul 25
  • RES 3: 139.41 High Jul 28
  • RES 2: 138.61 50-day EMA
  • RES 1: 138.03 20-day EMA
  • PRICE: 137.57 @ 17:33 BST Aug 5
  • SUP 1: 134.84/133.40 Low Aug 3 / 2 and a bear trigger
  • SUP 2: 132.66 Low May 12 and a key support
  • SUP 3: 131.99 61.8% retracement of the Mar 7 - Jun 28 bull leg
  • SUP 4: 130.72 Low Mar 17

EURJPY is holding on to its most recent gains and added to these on Friday. The recovery from 133.40, confirmed a hammer formation on Aug 2 and this pattern highlighted a reversal of the recent downleg. The subsequent recovery has opened 138.03 and 138.61, the 20- and 50-day EMA values. On the downside, a reversal lower and a breach of 133.40 would instead resume the bear cycle and open 132.66, the May 12 low.

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  • RES 4: 140.07 High Jul 25
  • RES 3: 139.41 High Jul 28
  • RES 2: 138.61 50-day EMA
  • RES 1: 138.03 20-day EMA
  • PRICE: 137.57 @ 17:33 BST Aug 5
  • SUP 1: 134.84/133.40 Low Aug 3 / 2 and a bear trigger
  • SUP 2: 132.66 Low May 12 and a key support
  • SUP 3: 131.99 61.8% retracement of the Mar 7 - Jun 28 bull leg
  • SUP 4: 130.72 Low Mar 17

EURJPY is holding on to its most recent gains and added to these on Friday. The recovery from 133.40, confirmed a hammer formation on Aug 2 and this pattern highlighted a reversal of the recent downleg. The subsequent recovery has opened 138.03 and 138.61, the 20- and 50-day EMA values. On the downside, a reversal lower and a breach of 133.40 would instead resume the bear cycle and open 132.66, the May 12 low.