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Bullish Trend Outlook

EURJPY TECHS
  • 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: 144.16 @ 16:19 GMT Mar 9
  • SUP 1: 143.73 20-day EMA
  • SUP 2: 142.82/15 50-day EMA / Low Feb 24 and a key support
  • SUP 3: 141.52 Low Feb 14
  • SUP 4: 140.14 Low Feb 13

EURJPY is consolidating and the recent pause appears to be a bull flag. Trend conditions are bullish and recent gains maintain the positive price sequence of higher highs and higher lows. Sights are on 145.80 the 76.4% retracement of the Oct 21 - Jan 3 bear leg and 146.73, the Dec 15 high. On the downside, key short-term support to watch has been defined at 142.15, Feb 24 low. First support lies at 143.73, the 20-day EMA. The level was pierced Thursday, but prices swiftly recovered ahead of the close.

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