EURJPY TECHS: Has Pierced The 20-Day EMA

• RES 4: 164.76 High Nov 20 and a key short-term resistance  
• RES 3: 162.49 High Nov 22  
• RES 2: 161.59 50-day EMA 
• RES 1: 161.55 High Dec 13   
• PRICE: 161.34 @ 16:34 GMT Dec 13
• SUP 1: 157.87 Low Dec 09
• SUP 2: 156.18 Low Dec 03 and the bear trigger 
• SUP 3: 155.15 Low Sep 16 and a key support 
• SUP 4: 153.87 Low Dec 8 / 14 2023 

EURJPY is building onto its recent gains and a corrective cycle remains in play. Moving average studies are in a bear mode position, highlighting a dominant downtrend. 157.87, the 76.4% retracement of the Sep 16 - Oct 31 bull cycle, has recently been breached. The clear break of this level strengthens a bearish theme and opens 155.15, the Sep 16 low. The 20-day EMA has been pierced. Resistance at the 50-day EMA is at 161.59.