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Bulls Remain In The Driver’s Seat

EURJPY TECHS
  • RES 4: 166.97 1.50 proj of the Jul 28 - Aug 30 - Oct 3 price swing
  • RES 3: 165.99 1.382 proj of the Jul 28 - Aug 30 - Oct 3 price swing
  • RES 2: 164.77 1.236 proj of the Jul 28 - Aug 30 - Oct 3 price swing
  • RES 1: 164.30 High Nov 16
  • PRICE: 162.30 @ 16:50 GMT Nov 20
  • SUP 1: 161.78 Low Nov 20
  • SUP 2: 161.25/159.52 20- and 50-day EMA values
  • SUP 3: 157.70 Low Oct 30
  • SUP 4: 156.98 Low Oct 16

EURJPY bulls remain in the driver’s seat. Last week’s gains have reinforced bullish conditions and maintained the positive price sequence of higher highs and higher lows. Moving average studies are in a bull-mode position, reflecting the market's positive sentiment. Sights are on the 164.77 next, a Fibonacci projection. On the downside, initial firm support lies at 161.25, the 20-day EMA. The latest pullback is considered corrective.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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