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Support Remains Intact

EURJPY TECHS
  • RES 4: 149.46 1.382 proj of the May 12 - Jun 28 - Aug 2 price swing
  • RES 3: 148.88 High Dec 9 2014
  • RES 2: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 1: 147.75 High Oct 31
  • PRICE: 144.23 @ 16:39 GMT Nov 10
  • SUP 1: 145.71 20-day EMA
  • SUP 2: 143.99/143.80 Low Nov 10 / 3
  • SUP 3: 143.80 Oct 24 and key support / 50-day EMA
  • SUP 4: 141.78 Low Oct 13

EURJPY reversed off the week’s highs into the close, but - for now - nearby support is intact. 143.80 marks the Oct 24 low, and a break here is required for a deeper retracement and open 141.78, Oct 13 low. A continuation higher would expose key resistance at 148.40, Oct 21 high. Clearance of this hurdle would confirm a resumption of the uptrend that started Aug 2 and open 149.46, a Fibonacci retracement.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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