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Bullish Extension

EURJPY TECHS
  • RES 4: 147.10 High Nov 9 2022
  • RES 3: 146.73 High Dec 15 and a key resistance
  • RES 2: 145.83 High Dec 20
  • RES 1: 145.47 High Feb 28
  • PRICE: 144.45 @ 16:29 GMT Feb 28
  • SUP 1: 143.57 Low Feb 27
  • 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 erased the day’s gains into the Tuesday close, although price action since the beginning of the week remains bullish. The break higher maintains the bullish sequence of higher highs and higher lows, with the cross having cleared 144.53. This is the 76.4% retracement of the Dec 15 - Jan 3 bear leg. The breach opens 145.83, the Dec 20 high and 146.73, the Dec 15 high. On the downside, a key short-term support has been defined at 142.15, the Feb 24 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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