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Clears Mid-Jan Highs

EURJPY TECHS
  • RES 4: 164.30 High Nov 16 and a key medium-term resistance
  • RES 3: 163.72 High Nov 27
  • RES 2: 162.89 1.0% 10-dma envelope
  • RES 1: 162.36 High Feb 20
  • PRICE: 162.11 @ 16:28 GMT Feb 20
  • SUP 1: 160.37 20-day EMA
  • SUP 2: 158.92/08 Low Feb 7 / 1 and key support
  • SUP 3: 157.21 Low Jan 9
  • SUP 4: 156.08 Low Jan 4

EURJPY maintains a firmer tone and topped the mid-Jan highs of 161.86 ahead of the Friday close - with further gains noted early Monday. With key resistance pierced the uptrend off Dec lows has resumed, opening 162.89, the 1.0% 10-dma envelope. 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 160.37, the 20-day EMA.

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

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