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Support Remains Exposed

EURJPY TECHS
  • RES 4: 144.28 High Jun 28 and key resistance
  • RES 3: 143.85 High Jun 29
  • RES 2: 142.32/60 High Jul 21 / 2.0% 10-dma envelope
  • RES 1: 139.76/140.69 20-day EMA / High Jul 22
  • PRICE: 138.35 @ 06:47 BST Jul 28
  • SUP 1: 137.92 Intraday low
  • SUP 2: 136.87 Low Jul 8 and the bear trigger
  • SUP 3: 136.25 Low May 30
  • SUP 4: 135.40 76.4% retracement of the May 12 - Jun 28 climb

EURJPY remains below last week’s 142.32 high on Jul 21. The recent move lower signals the end of a corrective recovery between Jul 8 - 21. A continuation lower would expose 136.87, the Jul 8 low and a bear trigger. Clearance of this level would strengthen bearish conditions. For bulls, a move above 142.32 is required to reinstate a bullish theme and signal scope for a climb towards key resistance at 144.28, the Jun 28 high and a bull trigger.

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