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Northbound

EURJPY TECHS
  • RES 4: 175.40 1.50 proj of the May 3 - 15 - 16 price swing
  • RES 3: 175.06 2.0% 10-dma envelope
  • RES 2: 174.77 1.382 proj of the May 3 - 15 - 16 price swing
  • RES 1: 173.98 1.236 proj of the May 3 - 15 - 16 price swing
  • PRICE: 173.832 @ 07:04 BST Jul 03
  • SUP 1: 172.28 Low Jul 1
  • SUP 2: 170.91 20-day EMA
  • SUP 3: 169.34/167.53 Trendline from the Dec 7 ‘23 low / Low Jun 14
  • SUP 4: 167.33 Low May 16

The EURJPY trend structure is unchanged, it remains bullish and the cross continues to climb - price has traded to a fresh cycle high today. Last week’s gains resulted in a break of key resistance and a bull trigger at 171.56, the Apr 29 high, confirming a resumption of the uptrend. Moving average studies are also in a bull-mode position, highlighting a clear rising trend. Sights are on 173.98, a Fibonacci projection. Initial firm is at 170.91, the 20-day EMA.

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