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Holding On To Gains

EURJPY TECHS
  • RES 4: 135.85 High Feb 7 2018
  • RES 3: 134.62 3.0% 10-dma envelope
  • RES 2: 134.13 High Jun 1 2021 and a major resistance
  • RES 1: 133.89 High Mar 23
  • PRICE: 133.42 @ 06:43 GMT Mar 24
  • SUP 1: 131.59 Low Mar 22
  • SUP 2: 130.72 Low Mar 17
  • SUP 3: 130.25 20-day EMA
  • SUP 4: 129.60 50-day EMA

EURJPY is bullish and traded higher once again Wednesday. The cross has topped the bull trigger at the Feb 10 high of 133.15. This has strengthened the near-term bullish outlook and delivered fresh YTD highs. Upside targets shift higher to 134.13, the Jun 1 2021 high and a major resistance plus the 3.0% 10-dma envelope of 134.62. Price action also remains above both the 20- and 50-day EMAs. Initial firm support is seen at 131.59, Tuesday’s low.

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