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Bull Cycle Still In Play

  • RES 4: 147.75 High Oct 31
  • RES 3: 147.10 High Nov 9 2022
  • RES 2: 146.73 High Dec 15 and a key resistance
  • RES 1: 145.80 76.4% retracement of the Oct 21 - Jan 3 bear leg
  • PRICE: 144.87 @ 06:55 GMT Mar 3
  • SUP 1: 143.18 20-day EMA
  • SUP 2: 142.15 Low Feb 24 and a key support
  • SUP 3: 141.52 Low Feb 14
  • SUP 4: 140.14 Low Feb 13

EURJPY trend conditions are unchanged and the outlook remains bullish, despite the moderate fade into the Friday close. Fresh gains this week maintain the bullish price sequence of higher highs and higher lows. The cross has recently cleared 144.19, the 61.8% retracement of the Oct 21 - Jan 3 bear leg. The break opens 145.80, the 76.4% retracement and 146.73, the Dec 15 high. On the downside, a key short-term support has been defined at 142.15, Feb 24 low.

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