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Fresh Cycle High

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 162.80 1.00 proj of the Jul 28 - Aug 30 - Oct 3 price swing
  • RES 3: 162.00 Round number resistance
  • RES 2: 161.52 2.618 proj of the May 11 - 29 - 31 price swing
  • RES 1: 161.01 Intraday high
  • PRICE: 160.91 @ 06:56 GMT Nov 7
  • SUP 1: 158.81/158.16 20- and 50-day EMA values
  • SUP 2: 157.70 Low Oct 30
  • SUP 3: 156.98 Low Oct 16
  • SUP 4: 155.83 Low Oct 4

The trend outlook in EURJPY remains bullish and the cross has traded to a fresh cycle high. The move higher once again confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. 161.52, a Fibonacci projection, marks the next objective. On the downside, key short-term support lies at 158.16, the 50-day EMA. A breach of this average is required to highlight a top and the start of a correction.

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  • RES 4: 162.80 1.00 proj of the Jul 28 - Aug 30 - Oct 3 price swing
  • RES 3: 162.00 Round number resistance
  • RES 2: 161.52 2.618 proj of the May 11 - 29 - 31 price swing
  • RES 1: 161.01 Intraday high
  • PRICE: 160.91 @ 06:56 GMT Nov 7
  • SUP 1: 158.81/158.16 20- and 50-day EMA values
  • SUP 2: 157.70 Low Oct 30
  • SUP 3: 156.98 Low Oct 16
  • SUP 4: 155.83 Low Oct 4

The trend outlook in EURJPY remains bullish and the cross has traded to a fresh cycle high. The move higher once again confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. 161.52, a Fibonacci projection, marks the next objective. On the downside, key short-term support lies at 158.16, the 50-day EMA. A breach of this average is required to highlight a top and the start of a correction.