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Resumes It Uptrend

EURJPY TECHS
  • RES 4: 141.11 1.618 pro of the Aug 2 - 10 - 16 price swing
  • RES 3: 142.32 High Jul 21 and key resistance
  • RES 2: 141.92 1.382 pro of the Aug 2 - 10 - 16 price swing
  • RES 1: 141.42 Intraday high
  • PRICE: 140.96 @ 10:08 BST Sep 6
  • SUP 1: 138.69/14 Low Sep 5 / 50-day EMA
  • SUP 2: 137.03 Low Aug 29
  • SUP 3: 136.02 Low Aug 25
  • SUP 4: 135.52 Low Aug 24

EURJPY is firmer as the Yen remains offered. A bullish trend condition suggests potential for a continuation and today’s breach of last week’s high reinforces the current bull cycle. Last week’s gains resulted in a break of trendline resistance, drawn from the Jun 28 high. This strengthens bullish conditions and highlights a stronger reversal from the Aug 2 low. Sights are on 142.32, the Jul 21 high. Initial firm support is at 138.14, the 50-day EMA.

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