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Focus Is On Key Support

  • RES 4: 127.50 High Mar 2019
  • RES 3: 126.81 High Apr 17, 2019
  • RES 2: 126.76 High Aug 13 and the bull trigger
  • RES 1: 126.06 High Aug 19
  • PRICE: 124.99 @ 17:22 BST Aug 24
  • SUP 1: 124.44 Low Aug 21
  • SUP 2: 124.34 Low Aug 10/11 and key support
  • SUP 3: 123.84 Low Jul 31
  • SUP 4: 123.35 50-day EMA

EURJPY support remains at 124.34, Aug 10 / 11 low and a pivot level, remains exposed following the move lower last week. A break would signal scope for a deeper corrective sell-off perhaps towards the 50-day EMA that intersects at 123.35. For bulls, price needs to hold above support at 124.34. The key bull trigger is currently far off at 126.76. A break of this level would resume the past few months' strong uptrend.

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