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Needle Still Points North

EURJPY TECHS
  • RES 4: 133.68 Bull channel top drawn off the Oct 30, 2020 low
  • RES 3: 133.28 1.50 proj of Jun-Sep-Oct 2020 swing
  • RES 2: 133.13 High Sep 21, 2018 and a key resistance
  • RES 1: 132.73 High May 13
  • PRICE: 132.26 @ 17:04 BST May 13
  • SUP 1: 131.48 Low May 7
  • SUP 2: 130.99 Low May 5 and a key support
  • SUP 3: 130.57 Low Apr 27
  • SUP 4: 130.17 Bull channel base drawn off the Oct 30, 2020 low

EURJPY ebbed to new highs of 132.73 in Asia, retaining a bullish outlook. This reinforces bullish conditions and signals scope for further gains within the bull channel drawn off the Oct 30 2020 low. Moving average studies are still pointing north, reinforcing current conditions. Support is at 130.99, May 5 low. The focus is on 133.28 next, a Fibonacci projection.

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