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Firm Within The Bull Channel

  • RES 4: 133.19/30 Bull channel top / 2.0% 10-dma envelope
  • RES 3: 133.13 High Sep 21, 2018 and a key resistance
  • RES 2: 132.68 High Sep 27, 2018
  • RES 1: 132 36/37 2.236 of Jun-Sep-Oct 2020 price swing/High Apr 29
  • PRICE: 131.55 @ 17:09 BST Apr 30
  • SUP 1: 130.97 High Apr 20 and recent breakout level
  • SUP 2: 130.57 Low Apr 27
  • SUP 3: 130.52 20-day EMA
  • SUP 4: 129.68 Bull channel base drawn off the Oct 30, 2020 low

EURJPY maintains a bullish focus following this week's gains that confirmed a resumption of the uptrend. The cross has cleared 130.97, Apr 20 high and the focus is on 132.36, a Fibonacci projection. This level was tested Thursday's and a break would signal scope for further gains, as the cross appreciates within its bull channel, drawn off the Oct 30 2020 low. MA studies are in a bull mode, reinforcing current conditions. Support is at 130.57.

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