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Key Resistance Intact For Now

EURJPY TECHS
  • RES 4: 134.13 High June 2021
  • RES 3: 134.09 3.0% Upper Bollinger Band
  • RES 2: 133.45/48 2.0% 10-dma env / High Oct 20 and key resistance
  • RES 1: 133.15 High Feb 10
  • PRICE: 132.06 @ 15:38 GMT Feb 11
  • SUP 1: 131.26/130.61 Low Feb 7 / 20-day EMA
  • SUP 2: 130.15 50-day EMA
  • SUP 3: 129.19 Low Feb 3
  • SUP 4: 128.25 Low Jan 25 and a key short-term support

EURJPY rallied Thursday to print a new 2022 high of 133.15. The cross has failed to hold onto these gains however and traded lower into the Friday close. The short-term outlook is bullish following the strong impulsive rally on Feb 3 and the extension that followed. The focus is on 133.48 next, the October 2021 high. Initial support is seen at 131.26 and130.61, the Feb 7 low and 20-day EMA.

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