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Cracks Resistance

EURJPY TECHS
  • RES 4: 155.00 Round number resistance
  • RES 3: 154.62 1.764 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 2: 153.62 1.618 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 1: 152.88 Intraday high
  • PRICE: 152.82 @ 07:03 BST Jun 15
  • SUP 1: 150.92 Low Jun 14
  • SUP 2: 149.84 20-day EMA
  • SUP 3: 148.36 50-day EMA
  • SUP 4: 147.61 Low May 16

EURJPY is trading sharply higher as this week’s bull run extends. The cross has cleared key resistance at 151.61, the May 2 high and an important bull trigger. This confirms a resumption of the longer-term uptrend. The focus is on 153.00 handle and 153.62, a Fibonacci projection. On the downside, initial firm support is seen at 149.84, the Jun 14 low. A break would signal a short-term top.

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