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Pivot Support Remains 122.69

EURJPY TECHS
  • RES 4: 125.13 High Nov 9 and the bull trigger
  • RES 3: 124.68 High Nov 11
  • RES 2: 124.44 High Nov 16
  • RES 1: 124.03 High Nov 17
  • PRICE: 123.95 @ 11:11 GMT Nov 24
  • SUP 1: 122.85/69 Low Nov 19 / Low Nov 9 and key S/T support
  • SUP 2: 122.45 76.4% retracement of the Oct 30 - Nov 9 rally
  • SUP 3: 122.21 Low Nov 5
  • SUP 4: 121.62 Low Oct 30 and key support

EURJPY has recovered off recent lows but remains in a corrective mode. Attention recently has been on the firm support at 122.69, Nov 9 low. A breach would undermine recent bullish activity and signal scope for a deeper pullback towards 122.45 initially, a Fibonacci retracement. Weakness through this retracement would expose 121.62, Oct 30 low. A climb above 124.44, Nov 16 high is required to refocus attention on gains and open 125.13.

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