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Tops Key S/T Resistance

EURJPY TECHS
  • RES 4: 161.78 High Dec 1
  • RES 3: 159.93 High Dec 4
  • RES 2: 158.67 High Dec 12 and key short-term resistance
  • RES 1: 158.83 High Jan 05
  • PRICE: 158.29 @ 08:50 GMT Jan 05
  • SUP 1: 155.08/153.23 Low Jan 02 / Dec 07 and bear trigger
  • SUP 2: 152.24 3.764 proj of the Nov 16 - 21 - 27 price swing
  • SUP 3: 151.42 Low Jul 28 and a key support
  • SUP 4: 150.92 Low Jun 14

The correction continues in EUR/JPY, with the cross taking out notable resistance at the 50-dma of 158.21 as well as Dec19 and Dec7 highs. This bullish break opens the 50-dma further out at 159.34 as the next key upside level. Any continuation lower and a break of 153.23, the Dec 7 low and bear trigger, would resume the downtrend. This would open 152.24, a Fibonacci projection.

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