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Support Remains Exposed

EURJPY TECHS
  • RES 4: 131.76 61.8% retracement of the Jun - Sep downleg
  • RES 3: 131.09 High Jul 13
  • RES 2: 130.75 High Sep 3 bull trigger
  • RES 1: 129.64/130.48 50-day EMA / High Sep 29
  • PRICE: 128.90@ 06:30 BST Oct 5
  • SUP 1: 128.31 Low Sep 23
  • SUP 2: 127.94/93 Low Aug 19 / Low Sep 22 the bear trigger
  • SUP 3: 127.88 50.0% retracement of the Oct '20 - Jan rally
  • SUP 4: 127.50 Low Feb 22

EURJPY is unchanged and is trading near recent lows. Last week's pullback from 130.48, Sep 29 high highlights a bearish risk once again. A continuation lower would expose key support at 127.94/93, Aug 19 and Sep 22 low where a break would resume the downtrend. For bulls, key resistance is unchanged at 130.75, Sep 3 high and represents the bull trigger.

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