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CORN TECHS

(N1) Needle Still Points North

SOY TECHS

(N1) Bullish Theme

COPPER TECHS

(K1) Breaks Out Of Its Recent Range

OPTIONS

Larger FX Option Pipeline

USD

Greenback Weakness Resumes into NY Hours

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  • RES 4: 132.36 1.382 proj of the Jun - Sep - Oct 2020 price swing
  • RES 3: 131.22 1.236 proj of the Jun - Sep - Oct 2020 price swing
  • RES 2: 130.73 1.0% 10-dma Envelope
  • RES 1: 129.97 High Feb 25 and the bull trigger
  • PRICE: 128.50 @ 16:36 GMT Mar 1
  • SUP 1: 128.22 Low Mar 1
  • SUP 2: 127.65 20-day EMA
  • SUP 3: 127.31 Low Feb 17
  • SUP 4: 127.04 Low Feb 15

EURJPY maintains its underlying bullish tone despite pulling back from last week's Feb 25 high of 129.98. From a short-term perspective, trend conditions have recently entered overbought territory signalling scope for a corrective pullback. If this occurs, a move lower would open 127.65, the 20-day EMA. For bulls, clearance of 129.98 would resume the uptrend and pave the way for a climb towards 131.22, a Fibonacci projection.