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Bullish Trend Structure

EURJPY TECHS
  • RES 4: 167.02 2.0% 10-dma envelope
  • RES 3: 166.00 Round number resistance
  • RES 2: 165.35 High Mar 20 and the bull trigger
  • RES 1: 164.92 High Apr 04
  • PRICE: 164.46 @ 06:52 GMT Apr 08
  • SUP 1: 162.59 Trendline drawn from Dec 7 low
  • SUP 2: 162.33 50-day EMA
  • SUP 3: 161.07 Low Mar 15
  • SUP 4: 160.22 Low Mar 11

The trend outlook EURJPY remains bullish and the cross continues to trade above key short-term support at 162.59 - the trendline drawn from the Dec 7 ‘23 low. A clear break of this line is required to alter the picture. This would also highlight a break of the 50-day EMA, at 162.33. For bulls, a resumption of gains would expose key resistance at 165.35, the Mar 20 high. Clearance of this hurdle would resume the primary uptrend.

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