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Key Support Pierced

EURJPY TECHS
  • RES 4: 164.30 High Nov 16 and key resistance
  • RES 3: 163.72 High Nov 27
  • RES 2: 162.25 High Nov 29
  • RES 1: 160.97/161.86 High Jan 25 / 19 and the bull trigger
  • PRICE: 158.69 @ 06:01 GMT Feb 1
  • SUP 1: 158.46 Intraday low
  • SUP 2: 157.21 Low Jan 9
  • SUP 3: 156.08 Low Jan 4
  • SUP 4: 155.08 Low Jan 2

The EURJPY bullish trend condition is under threat. Support at the Jan 12 low has been pierced, signalling scope for a deeper pullback. 157.21, the Jan 9 low, presents the next target for bears if the recent run of pressure extends. For bulls, a resumption of gains would refocus attention on 161.86, the Jan 19 high and bull trigger. A break of this level would reinstate the recent bullish theme.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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