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EURJPY TECHS
  • RES 4: 164.77 1.236 proj of the Jul 28 - Aug 30 - Oct 3 price swing
  • RES 3: 164.00 Round number resistance
  • RES 2: 163.10 High Aug 22 2008
  • RES 1: 162.80 1.00 proj of the Jul 28 - Aug 30 - Oct 3 price swing
  • PRICE: 162.25 @ 06:53 GMT Nov 13
  • SUP 1: 159.84/158.66 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

EURJPY bulls remain in the driver’s seat and the cross has started the week on a bullish note. Continued gains reinforce bullish conditions and maintain the positive price sequence of higher highs and higher lows. Moving average studies remain in a bull-mode position, reflecting the market's positive sentiment. Sights are on 162.80 next, a Fibonacci extension. On the downside, initial firm support lies at 159.84, the 20-day EMA.

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