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Fresh Cycle High

EURJPY TECHS
  • RES 4: 160.66 2.382 proj of the May 11 - 29 - 31 price swing
  • RES 3: 160.00 Psychological handle
  • RES 2: 159.92 2.236 proj of the May 11 - 29 - 31 price swing
  • RES 1: 159.49 Intraday high
  • PRICE: 159.30 @ 06:55 BST Aug 22
  • SUP 1: 157.67/156.35 20-day EMA / Low Aug 8
  • SUP 2: 155.79 50-day EMA
  • SUP 3: 151.42 Low Jul 28 and key support
  • SUP 4: 150.16 38.2% retracement of the Jan 3 - Jul 21 bull cycle

The current EURJPY uptrend remains intact. Key resistance at 158.05, Jul 21 high, has recently been breached. This confirmed a continuation of the medium-term uptrend and sights are on 159.92, a Fibonacci projection ahead of the 160.00 psychological handle. Moving average studies are in a bull-mode condition, reflecting a rising trend. On the downside, initial firm support is 157.67, the 20-day EMA.

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