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Strong Start

EURJPY TECHS
  • RES 4: 145.83 High Dec 20
  • RES 3: 145.69 2.0% 10-dma envelope
  • RES 2: 144.53 76.4% retracement of the Dec 15 - Jan 3 bear leg
  • RES 1: 144.46 High Feb 27
  • PRICE: 144.32 @ 08:04 GMT Feb 27
  • SUP 1: 140.44 2.0% 10-dma envelope
  • SUP 2: 139.56/06 Low Feb 10 and a key support / Low Jan 20
  • SUP 3: 137.92 Low Jan 19
  • SUP 4: 137.39 Low Jan 3 and the bear trigger

EURJPY traded stronger to start the week, showing above last week’s highs at 144.16. This further firms the outlook for the cross, and extends the winning streak posted last week. The recent break of 142.99 confirms a continuation of the recovery that started on Jan 3. The next upside level sits at 144.53, ahead of vol-band resistance at 2.0% 10-dma envelope. Firmer support is expected at 139.94, the Feb 3 low and the outlook remains bullish.

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