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Pierces Key Resistance

EURJPY TECHS
  • RES 4: 146.23 2.236 proj of the Aug 2- 10 - 16 price swing
  • RES 3: 145.48 High Jan 1 2015
  • RES 2: 145.00 Psychological round number
  • RES 1: 144.28/32 High Jun 28 and key resistance / Intraday high
  • PRICE: 143.35 @ 16:51 BST Sep 8
  • SUP 1: 142.32/141.37 High Jul 21 / Low Sep 7
  • SUP 2: 139.56 Low Sep 6
  • SUP 3: 138.49 50-day EMA
  • SUP 4: 137.03 Low Aug 29

EURJPY traded higher again Thursday. This week’s impulsive gains reinforce current bullish conditions and maintain a positive price sequence of higher highs and higher lows. The cross has cleared resistance at 142.32, the Jul 21 high. Note that the cross has pierced 144.28, the Jun 28 high and a major resistance. A clear break would confirm a resumption of the broader uptrend. Initial support is seen at 142.32, the Jul 21 high.

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