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Clears Key Resistance

EURJPY TECHS
  • RES 4: 148.88 High Dec 9 2014
  • RES 3: 148.45 High Dec 15 2014
  • RES 2: 147.76 1.236 proj of the May 12 - Jun 28 - Aug 2 price swing
  • RES 1: 147.12 High Oct 18
  • PRICE: 146.77 @ 15:27 BST Oct 18
  • SUP 1: 144.09 High Oct 5
  • SUP 2: 142.57/141.20 20-day EMA / 50-day EMA
  • SUP 3: 139.44/137.40 Low Sep 29 / 26 and key support
  • SUP 4: 136.02 Low Aug 25

EURJPY extended gains into the Tuesday close, briefly topping the Y147.00 handle to print a new cycle high of 147.12. The price action follows the break of key resistance at 145.64, the Sep 12 high and bull trigger. This confirms a resumption of the broader uptrend that started in May 2020 and clears the way for a climb towards 147.76 next, a Fibonacci projection. Moving average studies are in a bull mode position, highlighting a broader uptrend. Initial support lies at 144.09, the Oct 5 high.

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