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Fresh Short-Term Cycle High

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 173.03 2.0% 10-dma envelope
  • RES 3: 192.00 Round number resistance
  • RES 2: 171.56 High Apr 29 and the bull trigger
  • RES 1: 170.80 High May 28 and intraday high
  • PRICE: 170.42 @ 19:33 BST May 29
  • SUP 1: 168.63/69 20- and 50-day EMA values
  • SUP 2: 166.62 Trendline support drawn from the Dec 7 ‘23 low
  • SUP 3: 165.64 Low May 7
  • SUP 4: 164.02 Low May 3

EURJPY maintains a firmer short-term tone and the cross traded higher yesterday. The medium-term trend structure is bullish and sights are on 171.56, the Apr 29 high and key resistance. Initial support to watch lies at 168.63, the 20-day EMA. A break of it would expose key trendline support drawn from the Dec 7 ‘23 low, at 166.62. A clear breach of this line would highlight a stronger reversal.

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  • RES 4: 173.03 2.0% 10-dma envelope
  • RES 3: 192.00 Round number resistance
  • RES 2: 171.56 High Apr 29 and the bull trigger
  • RES 1: 170.80 High May 28 and intraday high
  • PRICE: 170.42 @ 19:33 BST May 29
  • SUP 1: 168.63/69 20- and 50-day EMA values
  • SUP 2: 166.62 Trendline support drawn from the Dec 7 ‘23 low
  • SUP 3: 165.64 Low May 7
  • SUP 4: 164.02 Low May 3

EURJPY maintains a firmer short-term tone and the cross traded higher yesterday. The medium-term trend structure is bullish and sights are on 171.56, the Apr 29 high and key resistance. Initial support to watch lies at 168.63, the 20-day EMA. A break of it would expose key trendline support drawn from the Dec 7 ‘23 low, at 166.62. A clear breach of this line would highlight a stronger reversal.