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Recovering From Friday’s Low

EURJPY TECHS
  • RES 4: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 3: 147.75 High Oct 31
  • RES 2: 147.10 High Nov 9
  • RES 1: 145.27 20-day EMA
  • PRICE: 144.83 @ 15:38 GMT Nov 16
  • SUP 1: 142.57 Low Nov 11 and the bear Trigger
  • SUP 2: 141.78 Low Oct 13
  • SUP 3: 140.90 Low Oct 10
  • SUP 4: 140.00 76.4% retracement of the Sep 26 - Oct 21 rally

EURJPY has recovered from last week’s low print of 142.57. Recent bearish activity resulted in a break of support at 143.80, the Oct 24 low and price traded below the 50-day EMA. A resumption of weakness would signal potential for a deeper retracement and this would open 141.78, the Oct 13 low. On the upside, a break of resistance at 147.10, the Nov 9 high, would instead expose the bull trigger at 148.40, the Oct 21 high.

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  • RES 4: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 3: 147.75 High Oct 31
  • RES 2: 147.10 High Nov 9
  • RES 1: 145.27 20-day EMA
  • PRICE: 144.83 @ 15:38 GMT Nov 16
  • SUP 1: 142.57 Low Nov 11 and the bear Trigger
  • SUP 2: 141.78 Low Oct 13
  • SUP 3: 140.90 Low Oct 10
  • SUP 4: 140.00 76.4% retracement of the Sep 26 - Oct 21 rally

EURJPY has recovered from last week’s low print of 142.57. Recent bearish activity resulted in a break of support at 143.80, the Oct 24 low and price traded below the 50-day EMA. A resumption of weakness would signal potential for a deeper retracement and this would open 141.78, the Oct 13 low. On the upside, a break of resistance at 147.10, the Nov 9 high, would instead expose the bull trigger at 148.40, the Oct 21 high.