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Bearish Focus

EURJPY TECHS
  • RES 4: 144.28 High Jun 28 and key resistance
  • RES 3: 143.85 High Jun 29
  • RES 2: 142.37 High Jul 5
  • RES 1: 142.19 2.0% 10-dma envelope
  • PRICE: 139.68 @ 16:38 BST Jul 25
  • SUP 1: 138.72 Intraday low
  • SUP 2: 137.99/36.87 Low Jul 14 / Low Jul 8 and the bear trigger
  • SUP 3: 136.25 Low May 30
  • SUP 4: 135.40 76.4% retracement of the May 12 - Jun 28 climb

EURJPY traded higher last week, but also found firm resistance at 142.32 on Jul 21. The pullback signals the end of a corrective recovery between Jul 8 - 21. A continuation lower would expose 136.87, Jul 8 low and a bear trigger. Clearance of this level would strengthen bearish conditions. For bulls, a move above 142.32 would instead suggest scope for a climb towards key resistance at 144.28, the Jun 28 high.

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  • RES 4: 144.28 High Jun 28 and key resistance
  • RES 3: 143.85 High Jun 29
  • RES 2: 142.37 High Jul 5
  • RES 1: 142.19 2.0% 10-dma envelope
  • PRICE: 139.68 @ 16:38 BST Jul 25
  • SUP 1: 138.72 Intraday low
  • SUP 2: 137.99/36.87 Low Jul 14 / Low Jul 8 and the bear trigger
  • SUP 3: 136.25 Low May 30
  • SUP 4: 135.40 76.4% retracement of the May 12 - Jun 28 climb

EURJPY traded higher last week, but also found firm resistance at 142.32 on Jul 21. The pullback signals the end of a corrective recovery between Jul 8 - 21. A continuation lower would expose 136.87, Jul 8 low and a bear trigger. Clearance of this level would strengthen bearish conditions. For bulls, a move above 142.32 would instead suggest scope for a climb towards key resistance at 144.28, the Jun 28 high.