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EURJPY Continues To Trade With Constructive Manner

JPY
  • Following yesterday’s more constructive price action, EURJPY is once again trading with an upward bias, rising 0.62%, and closing the gap on a cluster of higher around the 143.00 mark.
  • The most recent reversal higher refocuses attention on this area and in particular 142.99, the Feb 06 high, where a break would confirm a continuation of the recovery that started on Jan 3.
  • The technical outlook remains bullish and resistance levels/targets above include:
    • RES 1: 144.00 Round number resistance
    • RES 2: 144.53 76.4% retracement of the Dec 15 - Jan 3 bear leg
    • RES 3: 145.83 High Dec 20

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