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Bounce Reversing

EURJPY TECHS
  • RES 4: 134.14 3.0% Upper Bollinger Band
  • RES 3: 133.48/82 High Oct 20 and key resistance / 2.0% 10-dma env
  • RES 2: 133.15 High Feb 10
  • RES 1: 131.91 High Feb 16
  • PRICE: 130.41 @ 16:53 GMT Feb 18
  • SUP 1: 130.05 Low Feb 14
  • SUP 2: 129.41 76.4% retracement of the Jan 25 - Feb 10 rally
  • SUP 3: 129.19 Low Feb 3
  • SUP 4: 128.25 Low Jan 25 and a key short-term support

The EURJPY bounce partially reversed into the Thursday close, however prices remain within range of the bull trigger at 133.15, Feb 10 high, meaning rallies will target this level before shifting sights to 133.48 and above. A key support zone at 130.65-20 (the 20- and 50-day EMAs) is creaking, and a meaningful break of the lower level exposes 130.05.

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

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