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Resumes Its Uptrend

EURJPY TECHS
  • RES 4: 151.00 1.236 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 3: 150.00 Round number resistance
  • RES 2: 149.39 1.00 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 1: 148.67 Intraday high
  • PRICE: 148.58 @ 07:15 BST Apr 28
  • SUP 1: 146.29 Low Apr 25 and a key short-term support
  • SUP 2: 146.24 20-day EMA
  • SUP 3: 145.77 Low Apr 12
  • SUP 4: 144.71 50-day EMA

EURJPY is trading higher today and has pierced Tuesday’s 148.62 high. This confirms a resumption of the uptrend and cancels recent short-term bearish threats. The move higher signals scope for a climb towards 149.39 next, a Fibonacci projection. Moving average studies remain in a bull mode position. Key short-term support has been defined at 146.29, the Apr 25 low, where a break is required to highlight a short-term reversal.

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