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Impulsive Rally Extends

EURJPY TECHS
  • RES 4: 145.00 Psychologicals round number
  • RES 3: 144.28 High Jun 28 and key resistance
  • RES 2: 143.85 1.764 proj of the Aug 2 - 10 - 16 price swing
  • RES 1: 143.38 Intraday high
  • PRICE: 143.55 @ 17:01 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 stays 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 cleared resistance at 142.32, the Jul 21 high. The break opens 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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