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Pulls Back From Its Recent Highs

EURJPY TECHS
  • RES 4: 146.73 High Dec 15 and a key resistance
  • RES 3: 145.83 High Dec 20
  • RES 2: 143.36 50-day EMA
  • RES 1: 141.95/142.94 Intraday high / High Dec 28
  • PRICE: 141.03 @ 07:03 GMT Dec 30
  • SUP 1: 140.34 Low Dec 26
  • SUP 2: 139.96 Low Dec 22
  • SUP 3: 138.81 Low Dec 20 and the bear trigger
  • SUP 4: 138.06 Low Sep 28

EURJPY has pulled back from Wednesday’s high of 142.94 and a key resistance at the 50-day EMA remains intact. The average intersects at 143.36 and is a key hurdle for bulls. A clear break of it would signal scope for a stronger recovery and highlight potential for a climb above the 144.00 handle. The trend condition remains bearish. A stronger reversal lower would instead refocus attention on the 138.81 bear trigger, the Dec 20 low.

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