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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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Positive Tone Maintained

  • RES 4: 126.36 2.0% 10-dma envelope
  • RES 3: 126.13 High Sep 11
  • RES 2: 125.79 76.4% retracement of the Sep - Oct sell-off
  • RES 1: 125.13 High Nov 9 / 30 and the bull trigger
  • PRICE: 124.67 @ 16:27 GMT Nov 30
  • SUP 1: 123.77/73 20- and 50-day EMA levels
  • SUP 2: 122.85/69 Low Nov 19 / Low Nov 9 and key S/T support
  • SUP 3: 122.45 76.4% retracement of the Oct 30 - Nov 9 rally
  • SUP 4: 122.21 Low Nov 5

EURJPY recovered off recent lows last week and traded above resistance at 124.44, Nov 16 high. Recent gains signal scope for a stronger recovery and have opened resistance at 125.13, Nov 9 /30 high and a bull trigger. On the downside, firm support has been defined at 122.85, Nov 19 low. Bulls will be looking for this level to hold. A break would likely trigger a deeper sell-off. Initial support lies at 123.68/64.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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