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Watching Support

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 166.46 1.236 proj of the Jan 2 - 19 - Feb 1 price swing
  • RES 3: 165.00 Round number resistance
  • RES 2: 164.30 High Nov 16 and a key medium-term resistance
  • RES 1: 163.72 High Nov 27 and Feb 26
  • PRICE: 161.87 @ 16:48 GMT Feb 29
  • SUP 1: 161.83 20-day EMA
  • SUP 2: 160.60 50-day EMA
  • SUP 3: 158.92 Low Feb 7
  • SUP 4: 158.08 Low Feb 1 and key support

EURJPY maintains a firmer tone and the latest move lower appears to be a correction. Initial support to watch lies at 161.83, the 20-day EMA - a level pierced, but not convincingly broken on Thursday. A clear break of this average is required to signal scope for a deeper pullback that would expose the 50-day EMA, at 160.60. MA studies continue to highlight a bull trend. A resumption of gains would refocus attention on 163.72, the Nov 27 high (tested) ahead of key resistance at 164.30, the Nov 16 high.

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  • RES 4: 166.46 1.236 proj of the Jan 2 - 19 - Feb 1 price swing
  • RES 3: 165.00 Round number resistance
  • RES 2: 164.30 High Nov 16 and a key medium-term resistance
  • RES 1: 163.72 High Nov 27 and Feb 26
  • PRICE: 161.87 @ 16:48 GMT Feb 29
  • SUP 1: 161.83 20-day EMA
  • SUP 2: 160.60 50-day EMA
  • SUP 3: 158.92 Low Feb 7
  • SUP 4: 158.08 Low Feb 1 and key support

EURJPY maintains a firmer tone and the latest move lower appears to be a correction. Initial support to watch lies at 161.83, the 20-day EMA - a level pierced, but not convincingly broken on Thursday. A clear break of this average is required to signal scope for a deeper pullback that would expose the 50-day EMA, at 160.60. MA studies continue to highlight a bull trend. A resumption of gains would refocus attention on 163.72, the Nov 27 high (tested) ahead of key resistance at 164.30, the Nov 16 high.