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Support Remains Intact

EURJPY TECHS
  • RES 4: 134.40 2.382 proj of the Sep 22 - 29 - Oct 6 price swing
  • RES 3: 134.13 High Jun 1 and a key resistance
  • RES 2: 133.76 High Jun 10
  • RES 1: 132.92/133.48 High Oct 29 / High Oct 20
  • PRICE: 132.36 @ 21:06 GMT Nov 3
  • SUP 1: 131.48 Low Nov 2
  • SUP 2: 130.86/75 50-day EMA / Sep 3 high
  • SUP 3: 129.28 Low Oct 11
  • SUP 4: 128.94 Low Oct 8

EURJPY continues to trade just above its 20-day EMA. Attention is on this EMA that intersects at 131.67 and was probed Tuesday. A clear break lower would suggest scope for a deeper corrective pullback and expose 130.75, Sep3 high and a recent key breakout level. Note that 130.86 is where the 50-day EMA intersects - a key short-term support. Broader trend signals continue to point north, the trigger for a resumption of gains is 133.48.

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