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Heading North

EURJPY TECHS
  • RES 4: 133.29 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 proj of the Jun - Sep - Oct 2020 price swing/High Apr 29
  • PRICE: 131.91 @ 16:35 BST Apr 29
  • SUP 1: 130.97 High Apr 20 and recent breakout level
  • SUP 2: 130.57 Low Apr 27
  • SUP 3: 130.36 20-day EMA
  • SUP 4: 129.61 Bull channel base drawn off the Oct 30, 2020 low

EURJPY maintains a bullish focus following this week's gains that have confirmed a resumption of its uptrend. The cross has cleared former resistance at 130.97, Apr 20 high. The focus is on 132.36, a Fibonacci projection, and Thursday's high, as the price climbs within its bull channel, drawn off the Oct 30 2020 low. Moving average studies remain in a bull mode position too, reinforcing current conditions. Support is seen at Tuesday's low of 130.57.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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