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Finds Support At Tuesday’s Low

EURJPY TECHS
  • RES 4: 134.21 3.0% Upper Bollinger Band
  • RES 3: 133.48/96 High Oct 20 and key resistance / 2.0% 10-dma env
  • RES 2: 133.15 High Feb 10 and key resistance
  • RES 1: 130.90/131.91 High Feb 21 / High Feb 16
  • PRICE: 130.32 @ 06:38 GMT Feb 23
  • SUP 1: 129.41/36 76.4% of the Jan 25 - Feb 10 rally / Intraday low
  • SUP 2: 129.19 Low Feb 3
  • SUP 3: 128.25 Low Jan 25 and a key short-term support
  • SUP 4: 127.52 Low Dec 20

EURJPY found support Tuesday at 129.36, just below 129.41, a Fibonacci retracement, reinforcing the importance of this area as a support. An extension lower would leave the 129.00 handle exposed and open 128.25, the Jan 25 low. For bulls, a stronger reversal higher would suggest the corrective pullback is over and signal scope for a climb towards resistance at 131.91, the Feb 16 high and the more important 133.15 hurdle, Feb 10 high.

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