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Key Resistance Exposed

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Bull Cycle Extends

EURJPY TECHS
  • RES 4: 145.64 High Sep 12 and the bull trigger
  • RES 3: 144.48 High High Sep 14
  • RES 2: 143.70 76.4% retracement of the Sep 12 - 26 downleg
  • RES 1: 142.49 61.8% retracement of the Sep 12 - 26 downleg
  • PRICE: 141.96 @ 06:36 BST Sep 29
  • SUP 1: 139.44/137.40 Low Sep 29 / 26 and key support
  • SUP 2: 136.02 Low Aug 25
  • SUP 3: 135.52 Low Aug 24
  • SUP 4: 134.95 Low Aug 16 and a key support

EURJPY traded higher yesterday, extending the recovery from 137.40, the Sep 26 low. Recent weakness between Sep 12 - 26 appears to have been a correction and if correct, the latest recovery signals the end of that bear cycle. An extension would open 143.70, a Fibonacci retracement and signal scope for a climb towards key resistance at 145.64, the Sep 12 high. On the downside, key support lies at 137.40, the Sep 26 low.

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  • RES 4: 145.64 High Sep 12 and the bull trigger
  • RES 3: 144.48 High High Sep 14
  • RES 2: 143.70 76.4% retracement of the Sep 12 - 26 downleg
  • RES 1: 142.49 61.8% retracement of the Sep 12 - 26 downleg
  • PRICE: 141.96 @ 06:36 BST Sep 29
  • SUP 1: 139.44/137.40 Low Sep 29 / 26 and key support
  • SUP 2: 136.02 Low Aug 25
  • SUP 3: 135.52 Low Aug 24
  • SUP 4: 134.95 Low Aug 16 and a key support

EURJPY traded higher yesterday, extending the recovery from 137.40, the Sep 26 low. Recent weakness between Sep 12 - 26 appears to have been a correction and if correct, the latest recovery signals the end of that bear cycle. An extension would open 143.70, a Fibonacci retracement and signal scope for a climb towards key resistance at 145.64, the Sep 12 high. On the downside, key support lies at 137.40, the Sep 26 low.