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Resistance Remains Exposed

EURJPY TECHS
  • RES 4: 147.75 High Oct 31
  • RES 3: 147.10 High Nov 9 2022
  • RES 2: 146.73 High Dec 15
  • RES 1: 145.80 76.4% retracement of the Oct 21 - Jan 3 downleg
  • PRICE: 144.18 @ 20:06 BST Apr 4
  • SUP 1: 143.63 Low Mar 4
  • SUP 2: 142.79 50-day EMA
  • SUP 3: 141.79 Low Mar 29
  • SUP 4: 141.05 Low Mar 28

EURJPY continues to trade closer to its recent highs. The cross has recently pierced key resistance at 145.57, the Mar 2 high. A clear break of this level would strengthen bullish conditions and pave the way for gains above 146.00, towards 146.73, the Dec 15 high. Momentum studies remain in a bull-mode cndition highlighting a likely uptrend. On the downside, initial firm support lies at 142.79, the 50-day EMA.

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