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EURJPY TECHS

Sights Are On Key Resistance

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BTP TECHS: (Z2) Trading Closer To Its Recent Lows

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Approaching The 50-Day EMA

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(Z2) Trend Needle Still Points North

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Tops Trendline Resistance

EURJPY TECHS
  • RES 4: 140.21 76.4% retracement of the Jul 21 - Aug 2 downleg
  • RES 3: 140.07 High Jul 25
  • RES 2: 140.06 2.0% 10-dma envelope
  • RES 1: 139.21 High Aug 29
  • PRICE: 139.19 @ 17:14 BST Aug 30
  • SUP 1: 137.03 Low Aug 29
  • SUP 2: 135.52/34.95 Low Aug 24 / 16
  • SUP 3: 133.40 Low Aug 2 and a bear trigger
  • SUP 4: 132.66 Low May 12 and a key support

EURJPY traded higher again Tuesday and in the process cleared both the 50-day EMA as well as 139.09 trendline resistance drawn from the Jun 28 high, which marked the next key hurdle for bulls. The breach cancels the recent bearish theme and highlights a stronger reversal. Key support is at 135.52, while the first upside target is the 140.06 2.0% 10-dma envelope.

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  • RES 4: 140.21 76.4% retracement of the Jul 21 - Aug 2 downleg
  • RES 3: 140.07 High Jul 25
  • RES 2: 140.06 2.0% 10-dma envelope
  • RES 1: 139.21 High Aug 29
  • PRICE: 139.19 @ 17:14 BST Aug 30
  • SUP 1: 137.03 Low Aug 29
  • SUP 2: 135.52/34.95 Low Aug 24 / 16
  • SUP 3: 133.40 Low Aug 2 and a bear trigger
  • SUP 4: 132.66 Low May 12 and a key support

EURJPY traded higher again Tuesday and in the process cleared both the 50-day EMA as well as 139.09 trendline resistance drawn from the Jun 28 high, which marked the next key hurdle for bulls. The breach cancels the recent bearish theme and highlights a stronger reversal. Key support is at 135.52, while the first upside target is the 140.06 2.0% 10-dma envelope.