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Bull Rally Accelerates

  • RES 4: 140.03 High Jun 23 2015
  • RES 3: 139.00 High Aug 21 2015 and a key resistance
  • RES 2: 138.62 High Aug 25 2015
  • RES 1: 137.50/53 High Feb 2 ‘18 and major resistance / Intraday high
  • PRICE: 136.631 @ 10:15 GMT Mar 28
  • SUP 1: 133.94 Intraday low
  • SUP 2: 132.95/33 Low Mar 24 / 23
  • SUP 3: 130.98 20-day EMA
  • SUP 4: 130.23 50-day EMA

EURJPY has traded to a fresh trend high as a strong impulsive bull run accelerates. The cross cleared a key resistance last week at 134.13, Jun 1 2021 high. This strengthened bullish conditions and today’s gains reinforce current sentiment. It is worth noting that the trend has entered overbought territory as it steepens - a possible risk for short-term bulls. The focus is on 137.50 (probed), the Feb 2 2018 high and a major resistance.

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