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Impulsive Rally Extends

EURJPY TECHS
  • RES 4: 144.28 High Jun 28 and key resistance
  • RES 3: 143.85 1.764 proj of the Aug 2 - 10 - 16 price swing
  • RES 2: 143.11 1.618 proj of the Aug 2 - 10 - 16 price swing
  • RES 1: 142.66 Intraday high
  • PRICE: 142.53 @ 06:58 BST Sep 7
  • SUP 1: 141.37/139.56 Intraday low / Low Sep 6
  • SUP 2: 138.69/27 Low Sep 5 / 50-day EMA
  • SUP 3: 137.03 Low Aug 29
  • SUP 4: 136.02 Low Aug 25

EURJPY continues to climb as the Yen remains offered. This week’s impulsive gains reinforce current bullish conditions and the move higher maintains a positive price sequence of higher highs and higher lows. The cross has pierced resistance at 142.32, the Jul 21 high. A clear break would open 144.28, the Jun 28 high and the next major resistance. Firm trend support is seen at the 20-day EMA. The average intersects at 138.44.

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