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Attention Is On The Bear Trigger

EURJPY TECHS
  • RES 4: 132.88 High Jun 17
  • RES 3: 132.70 High Jun 23
  • RES 2: 132.43 High Jul 1 and a key resistance
  • RES 1: 131.86 High Jul 6
  • PRICE: 130.55 @ 17:14 BST Jul 7
  • SUP 1: 130.47/130.04 Low Jul 7 / Low Jun 21 and the bear trigger
  • SUP 2: 129.59 Low Apr 23
  • SUP 3: 128.83 Low Mar 29
  • SUP 4: 128.29 Low Mar 24 and key support

EURJPY extended losses Wednesday and continues to pull away from recent highs. The trend outlook is unchanged and remains bearish with recent weakness reinforces this theme. Furthermore, the sharp move lower between Jun 15 - 21 continues to highlight the risk for a depreciation in the cross. 130.04, Jun 21 low is the bear trigger. Initial firm resistance is at 132.43. Bearish!

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