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Bulls Remain In The Driver’s Seat

EURJPY TECHS
  • RES 4: 165.00 Round number resistance
  • RES 3: 164.30 High Nov 16 and a key medium-term resistance
  • RES 2: 163.72 High Nov 27
  • RES 1: 163.47 High Feb 22
  • PRICE: 162.85 @ 07:02 GMT Feb 26
  • SUP 1: 161.30 20-day EMA
  • SUP 2: 160.25 50-day EMA
  • SUP 3: 158.92 Low Feb 7
  • SUP 4: 158.08 Low Feb 1 and key support

EURJPY maintains a firmer tone and last week’s bullish extension reinforces current conditions. The cross is also holding on to the bulk of its recent gains. A continuation higher would open 163.72, the Nov 27 high ahead of key resistance at 164.30, the Nov 16 ‘23 high. Key short-term support is unchanged at 158.08, Feb 1 low. A clear break of this level would highlight a reversal. Initial support lies at 161.30, the 20-day EMA.

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