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Little Appetite to Go Lower

EURJPY TECHS
  • RES 4: 147.75 High Oct 31
  • RES 3: 147.10 High Nov 9 2022
  • RES 2: 146.73 High Dec 15 and a key resistance
  • RES 1: 145.80 76.4% retracement of the Oct 21 - Jan 3 bear leg
  • PRICE: 145.21 @ 16:20 GMT Mar 6
  • SUP 1: 143.32 20-day EMA
  • SUP 2: 142.15 Low Feb 24 and a key support
  • SUP 3: 141.52 Low Feb 14
  • SUP 4: 140.14 Low Feb 13

EURJPY trend conditions remain bullish and the latest pullback appears to be a correction, with little appetite to press prices lower. Fresh gains last week maintain the bullish price sequence of higher highs and higher lows. The cross has recently cleared 144.19, the 61.8% retracement of the Oct 21 - Jan 3 bear leg. This break opens 145.80 next, the 76.4% retracement and 146.73, the Dec 15 high. On the downside, key short-term support has been defined at 142.15, Feb 24 low.

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