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Clears 2021 Highs

EURJPY TECHS
  • RES 4: 137.50 High Feb 2 2018 and a major resistance
  • RES 3: 135.85 High Feb 7 2018
  • RES 2: 134.62 3.0% 10-dma envelope
  • RES 1: 134.42 High Mar 24
  • PRICE: 134.41 @ 16:30 GMT Mar 24
  • SUP 1: 131.59 Low Mar 22
  • SUP 2: 130.72 Low Mar 17
  • SUP 3: 130.25 20-day EMA
  • SUP 4: 129.60 50-day EMA

EURJPY is bullish and cleared major resistance at the 2021 highs of 134.13, from Jun 1. This works further in favour of bulls, with upside targets shifting to the 3.0% 10-dma envelope at 134.62 and the Feb 7 2018 high of 135.85. Despite the positive price developments, the RSI has ticked higher and is approaching an overbought signal for the first time since early February - when it presaged a corrective dip lower from 133.00 to below 126.00.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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