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Remains Below The 50-Day EMA

EURJPY TECHS
  • RES 4: 140.36 Trendline drawn from the Jun 28 high
  • RES 3: 140.07 High Jul 25
  • RES 2: 139.41 High Jul 28
  • RES 1: 138.34/ 50-day EMA / High Aug 10
  • PRICE: 135.58 @ 15:57 BST Aug 15
  • SUP 1: 135.28 Low Aug 15
  • SUP 2: 134.84/133.40 Low Aug 3 / 2 and a bear trigger
  • SUP 3: 132.66 Low May 12 and a key support
  • SUP 4: 131.99 61.8% retracement of the Mar 7 - Jun 28 bull leg

EURJPY remains below last Wednesday’s high of 138.40 and below the 50-day EMA. The recovery from 133.40, Aug 2 low, is likely a correction. Moving average studies still highlight a downtrend and the 50-day EMA, at 138.34, marks a firm resistance. A deeper pullback would refocus attention on the 133.40 bear trigger. For bulls, clearance of the 50-day EMA would instead suggest scope for a stronger recovery.

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  • RES 4: 140.36 Trendline drawn from the Jun 28 high
  • RES 3: 140.07 High Jul 25
  • RES 2: 139.41 High Jul 28
  • RES 1: 138.34/ 50-day EMA / High Aug 10
  • PRICE: 135.58 @ 15:57 BST Aug 15
  • SUP 1: 135.28 Low Aug 15
  • SUP 2: 134.84/133.40 Low Aug 3 / 2 and a bear trigger
  • SUP 3: 132.66 Low May 12 and a key support
  • SUP 4: 131.99 61.8% retracement of the Mar 7 - Jun 28 bull leg

EURJPY remains below last Wednesday’s high of 138.40 and below the 50-day EMA. The recovery from 133.40, Aug 2 low, is likely a correction. Moving average studies still highlight a downtrend and the 50-day EMA, at 138.34, marks a firm resistance. A deeper pullback would refocus attention on the 133.40 bear trigger. For bulls, clearance of the 50-day EMA would instead suggest scope for a stronger recovery.