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Key Support Remains Exposed

EURJPY TECHS
  • RES 4: 159.93 High Dec 4
  • RES 3: 159.17 50-day EMA
  • RES 2: 158.44 20-day EMA
  • RES 1: 157.68 High Dec 11 and key short-term resistance
  • PRICE: 155.26 @ 07:01 GMT Dec 18
  • SUP 1: 153.23 Low Dec 7 and the bear trigger
  • SUP 2: 152.24 3.764 proj of the Nov 16 - 21 - 27 price swing
  • SUP 3: 151.42 Low Jul 28 and a key support
  • SUP 4: 150.92 Low Jun 14

A bear threat in EURJPY remains present. Last week’s move lower reinforces the bearish theme and the recent recovery from 153.23, the Dec 7 low is considered corrective. Key short-term resistance to watch is at 157.68, the Dec 11 high. A break would signal a short-term reversal. On the downside, sights are on the bear trigger at 153.23, the Dec 7 low. A break would open 151.42, the Jul 28 low.

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