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Bull Cycle Extends

EURJPY TECHS
  • RES 4: 135.85 High Feb 7 2018
  • RES 3: 134.13 High Jun 1 2021 and a major resistance
  • RES 2: 134.09 3.0% 10-dma envelope
  • RES 1: 133.89 Intraday high
  • PRICE: 132.18 @ 16:44 GMT Mar 23
  • SUP 1: 131.59 Low Mar 22
  • SUP 2: 130.72 Low Mar 17
  • SUP 3: 129.23 20-day EMA
  • SUP 4: 127.42 Low Mar 10

EURJPY traded higher once again Wednesday. The cross has topped the bull trigger at the Feb 10 high of 133.15. This strengthens the near-term bullish outlook, with the cross at fresh YTD highs. Upside targets shift higher to the 3.0% 10-dma envelope of 134.09. The cross also remains above both the 20- and 50-day EMAs. Initial firm support is seen at 131.59, Tuesday’s low.

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

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