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FI Support Evaporates Amid Late Month End Selling


Remains Vulnerable


Late Risk Off Sees USDCAD Eye Cycle Highs


BLOCK, Late Puts

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Corrective Pullback

  • RES 4: 141.29 3.0% 10-dma envelope
  • RES 3: 141.06 High Jun 4 2015 and a key resistance
  • RES 2: 140.87 0.50 proj of the Mar 7 - 28 - Apr 5 price swing
  • RES 1: 138.32/140.00 High May 9 / High Apr 21 and the bull trigger
  • PRICE: 136.18 @ 06:53 BST May 12
  • SUP 1: 135.06 50-day EMA
  • SUP 2: 134.30Low Apr 5 and a key support
  • SUP 3: 132.95 Low Mar 24
  • SUP 4: 132.33 Low Mar 23

EURJPY is trading at this week’s lows. Short-term pullbacks are still considered corrective and the current uptrend remains intact. The 50-day EMA, represents a key support. It intersects at 135.06 today, just above another key support at 134.30, Apr 5 low. While these two support levels hold, the trend outlook remains bullish. The bull trigger is unchanged at 140.00, the Apr 21 high.

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