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EURJPY Trendline Provides Firm Support

  • EURJPY maintains a firmer tone.
  • Key trendline support drawn from the Dec 7 low remains intact.
  • The trendline has recently been pierced. A clear break of the line is required to signal a reversal.
  • While the trendline holds, the outlook is bullish.
  • The latest recovery exposes key resistance and the bull trigger at 163.72, Feb 26 high.
  • Clearance of this level would open 164.30, Nov 16 high and the key medium-term resistance.

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