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Holding On To recent Gains

  • RES 4: 145.58 High Dec 31 2014
  • RES 3: 145.00 Round number resistance
  • RES 2: 144.25/58 High Jun 8 / 0.764 proj of Mar 7 - 28 - Apr 5 swing
  • RES 1: 142.79 High Jun 10
  • PRICE: 142.04 @ 06:55 BST Jun 21
  • SUP 1: 139.87 20-day EMA
  • SUP 2: 137.85/82 Low Jun 16 / 50-day EMA and key support
  • SUP 3: 136.25 Low May 30
  • SUP 4: 134.99 Low May 25

EURJPY is holding on to its most recent gains, having recovered from last week’s low of 137.85 on Jun 16. The primary trend remains up. The climb above 140.00 this month confirmed a resumption of the uptrend that began Mar 7. Moving average studies still point north, reinforcing current conditions and this signals scope for a continuation higher towards 144.58 next, a Fibonacci projection. Firm S/T support is seen at 137.82, the 50-day EMA.

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