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- RES 4: 130.84/131.09 1.0% 10-dma envelope / High Jul 13
- RES 3: 130.75 High Sep 3 and the bull trigger
- RES 2: 130.20 High Sep 14 high
- RES 1: 129.67 High Sep 17
- PRICE: 128.48 @ 19:59 BST Sep 22
- SUP 1: 127.94/93 Low Aug 19 and the bear trigger / Intrada low
- SUP 2: 127.88 50.0% retracement of the Oct '20 - Jan rally
- SUP 3: 127.50 Low Feb 22
- SUP 4: 126.40 61.8% retracement of the Oct '20 - Jun rally
EURJPY remains in a bear mode and has traded just below the key support and bear trigger at 127.94, Aug 19 low. The formation this week of a death cross in the DMA space reinforces a bearish theme, and Monday's low also pierced the 1.0% 10-dma envelope. A clear break of 127.94 would open 127.88, a retracement. Further out, the risk of a move towards the 2021 lows of 125.09 has increased. Initial firm resistance is at 129.67.