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EURJPY TECHS
  • RES 4: 174.77 1.382 proj of the May 3 - 15 - 16 price swing
  • RES 3: 174.24 2.0% 10-dma envelope
  • RES 2: 173.98 1.236 proj of the May 3 - 15 - 16 price swing
  • RES 1: 173.39 Intraday high
  • PRICE: 173.32@ 07:15 BST Jul 1
  • SUP 1: 171.45 Low Jun 28
  • SUP 2: 170.35 20-day EMA
  • SUP 3: 169.12/167.53 Trendline from the Dec 7 ‘23 low / Low Jun 14
  • SUP 4: 167.33 Low May 16

The EURJPY trend structure is unchanged, it remains bullish and the cross has started this week’s session on a bullish note as it continues to appreciate. Last week’s gains resulted in a break of key resistance and the bull trigger at 171.56, the Apr 29 high. This confirms a resumption of the uptrend and sights are set on 173.98, a Fibonacci projection. Initial firm support lies at 170.35, the 20-day EMA.

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