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Resistance Remains Exposed

EURJPY TECHS
  • RES 4: 145.57 High Mar 2 and a key resistance
  • RES 3: 144.96 High Mar 15
  • RES 2: 143.98 76.4% retracement of the recent Mar 2 - 20 bear cycle
  • RES 1: 143.63 High Mar 22
  • PRICE: 142.88 @ 07:00 BST Mar 29
  • SUP 1: 141.79 Intraday low
  • SUP 2: 140.41/139.07 Low Mar 27 / 24
  • SUP 3: 138.83 Low Mar 20 and a bear trigger
  • SUP 4: 137.92 Low Jan 19

EURJPY is trading higher today but remains below 143.63, the Mar 22 high. This level represents a key short-term resistance where a break is required to reinstate a bullish theme. On the downside, key short-term support lies at 138.83, the Mar 20 low and is a bear trigger. Moving average studies remain in a bull mode set-up, highlighting bullish sentiment. A break of 143.63 would open 143.98, 76.4% of the Mar 2 - 20 bear cycle.

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