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Trendline Support Remains Intact

EURJPY TECHS
  • RES 4: 172.77 2.0% 10-dma envelope
  • RES 3: 172.77 Round number resistance
  • RES 2: 171.56 High Apr 29 and the bull trigger
  • RES 1: 171.44 0.764 proj of the May 3 - 15 - 16
  • PRICE: 170.92 @ 06:44 BST Jun 24
  • SUP 1: 169.42 20-day EMA
  • SUP 2: 168.57/167.53 Trendline from the Dec 7 ‘23 low / Low Jun 14
  • SUP 3: 167.33 Low May 16
  • SUP 4: 165.64 Low May 7

The EURJPY trend structure remains bullish and the cross is trading higher today. The latest move higher means that key trendline support - at 168.57 - remains intact. The line is drawn from the Dec 7 ‘23 low. A clear breach of it would undermine a bullish theme and highlight a reversal. 170.89 resistance, the Jun 3 high, has been pierced. Sights are on the bull trigger at 171.56, Apr 29 high.

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