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Resistance Remains Intact For Now

EURJPY TECHS
  • RES 4: 163.72 High Nov 27
  • RES 3: 162.25 High Nov 29
  • RES 2: 161.86 High Jan 19 and the bull trigger
  • RES 1: 161.63 High Feb 13
  • PRICE: 161.14 @ 07:10 GMT Feb 14
  • SUP 1: 160.11 20-day EMA
  • SUP 2: 158.92/08 Low Feb 7 / 1 and a key near-term support
  • SUP 3: 157.21 Low Jan 9
  • SUP 4: 156.08 Low Jan 4

EURJPY is holding on to the bulk of its most recent gains. Key short-term support lies at 158.08, the Feb 1 low. A clear break of this level is required to resume recent bearish pressure and open 157.21, the Jan 9 low. For bulls, key resistance to watch is 161.86, the Jan 19 high and bull trigger. Clearance of this level would resume the uptrend that started on Dec 7. 161.86 and 158.08 represent important directional triggers.

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