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Bull Cycle Extends

EURJPY TECHS
  • RES 4: 151.00 1.236 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 3: 150.00 Round number resistance
  • RES 2: 149.39 1.00 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 1: 148.62 Intraday high
  • PRICE: 148.28 @ 07:03 BST Apr 25
  • SUP 1: 147.12/146.41 Low Apr 24 / 21
  • SUP 2: 145.84 20-day EMA
  • SUP 3: 144.37 50-day EMA
  • SUP 4: 142.55 Low Apr 6

EURJPY traded higher Monday to confirm a resumption of the current uptrend. This maintains the positive price sequence of higher highs and higher lows and moving average studies remain in a bull mode position. The focus is on 149.39 next, a Fibonacci projection. Initial firm support lies at 145.84, the 20-day EMA. Short-term weakness would be considered corrective and a move lower would allow an overbought condition to unwind.

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