April 26, 2024 05:55 GMT
Bulls Remain In The Driver’s Seat
EURJPY TECHS
- RES 4: 169.96 High Jul 2008 and a major resistance
- RES 3: 169.05 1.618 proj of the Jan 1 - 19 - Feb 1 price swing
- RES 2: 168.25 1.50 proj of the Jan 1 - 19 - Feb 1 price swing
- RES 1: 167.51 Intraday high
- PRICE: 167.44 @ 06:54 BST Apr 26
- SUP 1: 165.95 Low Apr 25
- SUP 2: 164.70 20-day EMA
- SUP 3: 164.11 Trendline drawn from the Dec 7 ‘23 low
- SUP 4: 163.46 50-day EMA
The EURJPY trend condition remains bullish. This week’s gains have resulted in a breach of 165.35, the Mar 20 high, confirming a resumption of the uptrend. The break higher opens 168.25 next, a Fibonacci projection. Key trendline support at 164.11 remains intact. The line is drawn from the Dec 7 ‘23 low and a clear break of it is required to signal a short-term reversal. MA studies remain in a bull-mode set-up too, highlighting a clear uptrend.
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