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Short-Term Outlook Remains Beraish

EURJPY TECHS
  • RES 4: 152.81 1.50 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 3: 152.00 1.382 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 2: 151.61 High May 2 and the bull trigger
  • RES 1: 149.27/150.39 High May 8 / 3
  • PRICE: 147.71 @ 16:28 BST May 10
  • SUP 1: 147.04 Low May 10
  • SUP 2: 146.29 Low Apr 25 and a key short-term support
  • SUP 3: 145.98 50-day EMA
  • SUP 4: 145.67 High Mar 31

The Recent move lower in EURJPY resulted in a print below the 20-day EMA, currently at 147.74 and S/T trend conditions are bearish. A continuation lower and a clear break of this average would expose key support at 146.29, the Apr 25 low, ahead of the 50-day EMA at 145.98. The move lower is considered corrective and trend signals highlight an uptrend. Key resistance is at 151.61, May 2 high. Initial resistance is 149.27, Monday’s high.

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