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Resistance Remains Intact - For Now

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: 144.45/145.80 High Apr 5 / 76.4% of Oct 21 - Jan 3 downleg
  • PRICE: 142.95 @ 06:42 BST Apr 6
  • SUP 1: 142.55 Intraday low
  • SUP 2: 141.79 Low Mar 29 and a key support
  • SUP 3: 141.05 Low Mar 28
  • SUP 4: 140.41 Low Mar 27

EURJPY traded lower Wednesday and remains below 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 condition highlighting a likely uptrend. On the downside, the next support is seen at 141.79, the Mar 29 low.

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