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Tops Bull Trigger

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 167.70 2.0% 10-dma envelope
  • RES 3: 166.00 Round number resistance
  • RES 2: 165.74 High Apr 23
  • RES 1: 165.61 Upper 2.0% Bollinger Band
  • PRICE: 165.60 @ 16:24 BST Apr 23
  • SUP 1: 163.79/162.28 Trendline from Dec 7 ‘23 low / Low Apr 12
  • SUP 2: 161.07 Low Mar 15
  • SUP 3: 160.72 38.2% retracement of the Dec 7 ‘23 - Mar 20 rally
  • SUP 4: 160.22 Low Mar 11

The trend condition in EURJPY remains bullish and the cross tripped the bull trigger through the London close. This puts prices further above key support at 163.79 - a trendline drawn from the Dec 7 ‘23 low. A clear break below here is required to signal a short-term reversal and this would also highlight a breach of the 50-day EMA, at 163.09. For bulls, key resistance is 166.00, round number resistance.

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  • RES 4: 167.70 2.0% 10-dma envelope
  • RES 3: 166.00 Round number resistance
  • RES 2: 165.74 High Apr 23
  • RES 1: 165.61 Upper 2.0% Bollinger Band
  • PRICE: 165.60 @ 16:24 BST Apr 23
  • SUP 1: 163.79/162.28 Trendline from Dec 7 ‘23 low / Low Apr 12
  • SUP 2: 161.07 Low Mar 15
  • SUP 3: 160.72 38.2% retracement of the Dec 7 ‘23 - Mar 20 rally
  • SUP 4: 160.22 Low Mar 11

The trend condition in EURJPY remains bullish and the cross tripped the bull trigger through the London close. This puts prices further above key support at 163.79 - a trendline drawn from the Dec 7 ‘23 low. A clear break below here is required to signal a short-term reversal and this would also highlight a breach of the 50-day EMA, at 163.09. For bulls, key resistance is 166.00, round number resistance.