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Recovers Further Off Support

EURJPY TECHS
  • RES 4: 145.83 High Dec 20
  • RES 3: 144.53 76.4% retracement of the Dec 15 - Jan 3 bear leg
  • RES 2: 144.00 Round number resistance
  • RES 1: 142.99 High Feb 6
  • PRICE: 142.85 @ 08:19 GMT Feb 15
  • SUP 1: 139.56/06 Low Feb 10 and a key support / Low Jan 20
  • SUP 2: 138.45 2.0% 10-dma envelope
  • SUP 3: 137.92 Low Jan 19
  • SUP 4: 137.39 Low Jan 3 and the bear trigger

EURJPY is recovering further off support through the Wednesday open, after finishing toward the top-end of the daily range for two consecutive sessions on Tuesday. The reversal higher refocuses attention on 142.99, where a break would confirm a continuation of the recovery that started on Jan 3. Firmer support is expected at 139.94, the Feb 3 low and the outlook remains bullish.

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