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Remains Below The Recent High

EURJPY TECHS
  • RES 4: 139.00 High Aug 21 2015 and a key resistance
  • RES 3: 138.62 High Aug 25 2015
  • RES 2: 137.50/53 High Feb 2 ‘18 and major resistance / High Mar 28
  • RES 1: 136.84 High Mar 31
  • PRICE: 136.39 @ 21:30 BST Apr 11
  • SUP 1: 134.30/33.94 Low Apr 5 / Low Mar 28
  • SUP 2: 133.86 20-day EMA
  • SUP 3: 131.88 50-day EMA
  • SUP 4: 130.72 Low Mar 17

The recent EURJPY pullback from 137.53, Mar 28 high is still considered corrective and the move lower has allowed an overbought condition to unwind. Support to watch is 133.94, the Mar 28 low, where a break would open the 20-day EMA at 133.63. The primary trend remains up and the bull trigger is 137.50/53. Clearance of this hurdle would expose 138.62, the Aug 25, 2015 high.

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