EURJPY hit reverse Wednesday and extended losses well into the Friday close. The price action has put prices back below 143.70 resistance - the 76.4% retracement for the Sep 12 - 26 downleg and prices have pierced the 20-day EMA of 141.37. Key support lies at 137.40. For any recovery to gain a firmer footing, attention is on key resistance at 145.64, the Sep 12 high. A break of this level would confirm a resumption of the broader uptrend.
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EURJPY continues to climb as the Yen stays offered. This week’s impulsive gains reinforce current bullish conditions and the move higher maintains a positive price sequence of higher highs and higher lows. The cross has cleared resistance at 142.32, the Jul 21 high. The break opens 144.28, the Jun 28 high and the next major resistance. Firm trend support is seen at the 20-day EMA. The average intersects at 138.44.
Wednesday's US rates / bond options flow included: