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Climbing Within Its Channel

EURJPY TECHS
  • RES 4: 134.80 High Feb 8, 2018
  • RES 3: 134.19 1.618 proj of Jun-Sep-Oct 2020 swing
  • RES 2: 133.99 Bull channel top drawn off the Oct 30, 2020 low
  • RES 1: 133.32 Intraday high
  • PRICE: 133.29 @ 06:24 BST May 19
  • SUP 1: 132.37 High Apr 29 and recent breakout level
  • SUP 2: 131.69 Low May 12
  • SUP 3: 130.99 Low May 5 and a key support
  • SUP 4: 130.57 Low Apr 27

EURJPY is trading higher once again with bulls in firm control. The climb reinforces bullish conditions and signals scope for further gains within the bull channel drawn off the Oct 30 2020 low. The top of the channel intersects at 133.99. Moving average studies are still pointing north, also reinforcing current conditions. Initial firm support lies at 131.69, May 12 low. A firmer trend support is found at 130.99, May 5 low.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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