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Northbound

EURJPY TECHS
  • RES 4: 133.48 High Oct 20 and a key resistance
  • RES 3: 132.92 High Oct 21, 2021
  • RES 2: 132.46 1.00 proj of the Dec 3 - Jan 5 - 25 price swing
  • RES 1: 132.24 High Feb 7
  • PRICE: 132.11 @ 06:48 GMT Feb 10
  • SUP 1: 131.26/130.38 Low Feb 7 / 50.0% of the Feb 3 large range
  • SUP 2: 129.19 Low Feb 3
  • SUP 3: 128.25 Low Jan 25 and a key short-term support
  • SUP 4: 127.39 Low Dec 6 and a major support

EURJPY is trading closer to its recent highs and remains in a bull mode following the strong impulsive rally on Feb 3. The cross has cleared resistance at 131.60, Jan 5 high and a bull trigger. This break confirmed a resumption of the bull cycle that started on December 3. The focus is on 132.46 next, a Fibonacci projection. Initial support is seen at 131.26/130.38, the Feb 7 low and 50.0% of the Feb 3 range.

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